RAIL BOARD TO BE RESTRUCTURED

Railway Minister Suresh Prabhu also said he would soon ask Parliament to set up a Rail Development and Tariff Authority, which among other things will propose passenger fares and freight rates.

Partially accepting the Bibek Debroy Committee’s report, Mr Prabhu proposed the longawaited restructuring of the Railway Board, with its chairman suitably empowered to function on corporate lines and the setting up of crossfunctional directorates.

Showing a cash surplus of `8,720 crore in the current fiscal, Mr Prabhu pegged the operating ratio (expenditure against earnings) at 92 per cent. He proposed a plan outlay of `1.21 lakh crore against the revised budget estimate of `1 lakh crore last year. He also set a target to mop up revenue of `1,84,820 crore (2016-17).

Laced with many Hindi terms, which appeared to show the stamp of Prime Minister Narendra Modi, Mr Prabhu gave the slogan of Chalo milkar kuch naya karen (Let’s do something new together), which essentially captured the new theme of partnering with state governments, private players and PSU firms for taking up new projects.

“Three pillars of the strategy for us is Nav Arjan (new revenues), Nav Maanak (new norms) and Nav Sanrachna (new structures),” said Mr Prabhu in his 75-minute speech that was delivered at his characteristic “bullet” speed. Seeking an image makeover to endear the Narendra Modi government to the poor, Mr Prabhu proposed a new train, Antyodaya Express, meant for unreserved passengers, to run at superfast speed. Also, he unveiled DeenDayalu unreserved coaches with potable water and higher number of mobile charging points. Besides, there will be new trains Humsafar (totally 3rd AC), with optional meal facilities, Uday, which will be overnight double-decker service, and Utkrisht, which too will be double-decker AC Yatri Express for the busiest routes.