Railway minister Dinesh Trivedi on Wednesday said that he would consider setting up an authority on the lines of Airport Authority of India (AAI) to monitor modernisation programme of railway stations across the country. Railways stations are currently used as platforms for boarding and de-boarding trains and are not looked as separate profit centres.
Railways had earlier proposed developing over 50 world-class stations, with separate office complexes and shopping areas. However, the proposal saw little action.
?We have not exploited stations at all. We have to move on from the present and focus on stations to raise earnings,? Trivedi said at a conference during International Rail Equipment Exhibition 2011, organised by CII in association with Indian Railways. ?Why can?t we have Stations Authority of India like Airport Authority of India for development of stations as multipurpose hub,? he said.
The minister also said railways should review its financial model. ?Railways has to focus on areas like finance and marketing besides operations. There are two lacunae in the railway system as far as finance is concerned. First, coal gives us maximum earning but we don?t have people in railways dedicated to loading from this sector. Second, why should railways continue to buy equipment on retail basis? Why not gives orders for 10 years, wherein the vendor will be told a particular quantity for each year but the order will be given at once?? he said.
Railways has shortage of funds as passenger tariffs have not been revised since eight years and private investment is yet to pick pace. ?Most difficult task is to modernise railways taking care of finances. The private sector could have a major role to play in this,? he said. Railways is left with a surplus of only R75 lakh at present.
Trivedi identified strengthening of tracks, rolling stocks, signals, development of station and freight terminals as five areas in Indian Railways that need correction. He said that the approach paper to the 12th Plan envisaged investment of $1 trillion in infrastructure, 50% of which would come from private companies.
Stating that the railways was the lifeline of the economy, Trivedi said railways has to grow about 10-12% per annum if the country has to sustain its own targeted growth figures of 9% per annum.