With the problem of cash crunch taking a toll over the credibility of Indian Railway, a parliamentary panel has suggested government to ensure effective implementation of proposed five-year investment plan, which could act as stimulus package for turning around the public transporter’s story.
The panel, headed by former Railway Minister and TMC MP Dinesh Trivedi, also suggested that railways to improve the utilization of the existing assets should strategically invest the little resources to fill the gaps by adopting a system based approach. It emphasized the need for public transporter to reinvent itself and abstain from social responsibilities to make it a profit entity. It highlighted that Railways should have a clear and unambiguous perception of their role and their obligations to the nation.
Further, the 31-member panel has strongly batted for an urgent imperative of a national policy of railways. However, it expressed dissatisfaction on the performance of the Railways on safety-related issues. It observed that allocation and utilization for building road over-bridge (ROB) and road under-bridge (RUB) have consistently been on a downward trend.
Moreover, the panel also warned the Railways not to get into a debt trap and recommended that the Railways to not only undertake a pragmatic study on bankability of projects but also utilize high-cost and risk-infested market borrowings in those sectors that can offer assured returns.