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1. Railways wont have to pay dividends anymore to the govt. Around 10,000cr rupees could now be invested back in railways to improve the infrastructure and technological improvements. 2. Railways is unable to raise its revenue requirements from freights due to lack of demand of coal by power companies. The investment:returns ratio is exceeding 1, which doesnt augurs good for future investments. Such merger will merge the accounts with govt and hide the inefficiencies in the railways sector. 3. Govt will be shouldering the pension requirements of more than 10L retired railway employees resulting in a burden of 45k crore on the exchequer. 4. Populist rail budget and announcements regarding unviable/unrequired trains are now a thing of the past. Rail ministry will now be just like any other ministry recieving grants rather than being an undertaking of the central govt.
Some rail ministers are saying that it is a move towards privatization. What benefits or harm it might bring considering the vital social and economic role of railways? ...
Abolishing railway budget will bring the railway on the same level as that of government owned PSU like ONGC, SAIL etc. And this will help government to privatise some section of railway.
Abolishing railway budget will bring the railway on the same level as that of government owned PSU like ONGC, SAIL etc. And this will help government to privatise some section of railway.
You are wrong. Infact currently it is a sort of public undertaking. All the PSUs pay dividend to the govt. Govt can privatise railways without even merging the budget. No correlation with it.
Only a few implications: 1. Uncertainty over dividend. 2. Uncertainty over present debt that IR has. 3. What form the future gross budgetary support will take. 4. Effect on borrowing window for IRFC
And even these are not major issues, they can be ironed out easily after negotiations. Other than that, no change will be there in the operational autonomy and present system of governance of IR due to this merger. None at all. Most of the points in the above pdf are gas. Some of them can be used for the sake of an answer, but this move is no biggie.
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Comments
2. Railways is unable to raise its revenue requirements from freights due to lack of demand of coal by power companies. The investment:returns ratio is exceeding 1, which doesnt augurs good for future investments. Such merger will merge the accounts with govt and hide the inefficiencies in the railways sector.
3. Govt will be shouldering the pension requirements of more than 10L retired railway employees resulting in a burden of 45k crore on the exchequer.
4. Populist rail budget and announcements regarding unviable/unrequired trains are now a thing of the past. Rail ministry will now be just like any other ministry recieving grants rather than being an undertaking of the central govt.
All the PSUs pay dividend to the govt. Govt can privatise railways without even merging the budget. No correlation with it.
1. Uncertainty over dividend.
2. Uncertainty over present debt that IR has.
3. What form the future gross budgetary support will take.
4. Effect on borrowing window for IRFC
And even these are not major issues, they can be ironed out easily after negotiations.
Other than that, no change will be there in the operational autonomy and present system of governance of IR due to this merger. None at all.
Most of the points in the above pdf are gas.
Some of them can be used for the sake of an answer, but this move is no biggie.