“Requirement of external support is not required when an organisation has surplus amount in hand. In such circumstances, budgetary support may be reduced in the upcoming budget considering other primary financial needs of the country,” Damodaran said. He emphasised that the department should also look at other means of raising funds to meet its financial requirements.

“With the Indian economy gaining momentum, traditional ways of raising funds would not be sufficent and we should think out of the box to raise financial resources,” he added. However, he also cautioned against overlooking other facts pertaining totheIndian Railways. India is all set to achieve 9% growth from earlier 4-5% and the income of the Railways has also increased.