Budget Spares Fare Hike, Promises Modern, Global Network

He targeted to bring this down to 88.5 percent, or the lowest in nine years, from an unsustainable level of 93.6 percent in 2013-14 and 91.8 percent for this fiscal. This is better than what the prime minister had asked the railways a few days ago. Globally, a 75-80 percent or lower is seen as a healthy benchmark.

Prabhu also seemed to have ruled out the sale of surplus land and other assets of Indian Railways. "We will monetize our resources than sell them for finances," he said, adding: "Business as usual of asking for budgetary support from finance ministry is neither sustainable nor necessary."

The minister began with what ails Indian Railways. "Facilities have not improved substantially for the past few decades which is the result of under-investment that affects capacity, leading to poor morale. This fed into vicious cycle of chronic under-investment for a long time."

Emphasizing that safety, quality of service, standards and efficiency all suffered due to poor financial resources available with the Indian Railways in recent decades, the minister said adding all this further fed into the cycle of poor investment.
Read Also:
Android And iOS Grab 96.3 Pct In The Global OS Market
6 Unique Business Ideas That Help in Minting Money