1. Suresh Prabhu for transparent accounting for Indian Railways

Suresh Prabhu for transparent accounting for Indian Railways

Railway minister Suresh Prabhu has stressed the need for a systemic approach in developing an integrated IT-enabled accounting architecture for the national transporter

By: | New Delhi | Published: October 9, 2015 12:29 AM

Railway minister Suresh Prabhu has stressed the need for a systemic approach in developing an integrated IT-enabled accounting architecture for the national transporter, with a clear focus on measurement of outputs and outcomes of operational activities while formulating the budget.

Speaking at a workshop jointly organised by the World Bank and the Indian Railways (IR) in New Delhi, Prabhu said focus is required on the determination of cost of services with an aim to determine a rational pricing structure for the railways. The proposed accounting framework would provide greater transparency and promote good governance, he added. The workshop was part of concerted efforts by the ministry to implement an accrual system of accounting as announced in the FY16 Railway Budget.

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