Railways cuts outlay to get back on track

Jan 23 2014, 02:08 IST
Comments 0
Facing a shortfall of Rs 7,000 crore in passenger and freight receipts from the budget estimates, Indian Railways is set to cut its plan outlay by a similar amount. Reuters Facing a shortfall of Rs 7,000 crore in passenger and freight receipts from the budget estimates, Indian Railways is set to cut its plan outlay by a similar amount. Reuters
SummaryRailways has decided to slash its Plan outlay for 2013-14 to Rs 56,000 cr estimated in last rail budget.

Facing a shortfall of Rs 7,000 crore in passenger and freight receipts from the budget estimates, Indian Railways is set to cut its plan outlay by a similar amount, reports Rajat Arora in New Delhi. Sources said the national transporter has decided to slash its Plan outlay for 2013-14 to Rs 56,000 crore from Rs 63,000 crore estimated in the last rail budget. A 10% reduction in expenditure could hit the railways’ modernization and expansion projects, which were any under-provided for, owing to the high (and unhealthy) operating ratio of 88%. Sources say safety measures won’t be compromised but independent experts doubt this.

Ads by Google

More from Economy

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...