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Railway Budget 2016: Former Railway Minister and Trinamool Congress leader Dinesh Trivedi on Thursday said he is worried about the Indian Railways, which is presently in a crisis that is going from bad to worse – Trivedi's stint at the ministry had been very eventful. Trivedi said there are 2 options before Suresh Prabhu in the Railway Budget including 'fudge the figure'. However, he wished Railway Minister Suresh Prabhu 'good luck' ahead of the presentation of budget.
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Railway Budget 2016: "I am little worried about the Indian Railways because railways is a basic system anywhere in the world, which adds up to half a percent to the GDP. If the Railways doesn't do well, you cannot contain even your food inflation," he said. "However, at the moment whatever I see and whatever figures I get the Indian Railways is in a crisis, going from bad to worse," said Dinesh Trivedi.
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Suresh Prabhu's wife Uma and son Amaya were in the Visitor's gallery as he outlined his vision for the railway sector by presenting the budget which kept untouched passenger fares and freight charges.
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Railway Budget 2016: "I give you a concrete example, the operating ratio to my mind today could be anywhere above 100-115, it consists of revenue, which is divided by expenditure. The expenditure is of two types – one is direct and another is related to depreciation. If depreciation needs Rs. 50,000 crores and you show Rs. 5,000, it's not going to help you, the railways or the country," he suggested.
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Railway Budget 2016: "So he has an opportunity to tell this is it and these are the ways of doing it," added Trivedi. Railway Minister Suresh Prabhu is all set to present his second Rail Budget for 2016-17 in Parliament on Thursday. The people's expectations are high about the announcement of new trains and improvement in passenger amenities, while railway finances have come under tremendous strain as passenger fares was not hiked in the last budget and the minister faces a dilemma whether to raise fares and freight rates.
Railway Budget 2016: "I give you a concrete example, the operating ratio to my mind today could be anywhere above 100-115, it consists of revenue, which is divided by expenditure. The expenditure is of two types – one is direct and another is related to depreciation. If depreciation needs Rs. 50,000 crores and you show Rs. 5,000, it's not going to help you, the railways or the country," he suggested.
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