Saturday, December 6, 2014

High-level Committee constituted for improving financial health of Indian Railways

To submit its report by December 21

Saturday, December 06, 2014, 
By HBI Staff | Mumbai

The Ministry of Railways has constituted a high-level Committee to identify factors, issues and avenues for improving financial health of Indian Railways consisting of the following, stated a PIB release. The committee would submit its report by December 21, 2014. D K Mittal, IAS, (Retd) former Secretary to Government of India, is the Chairman of the committee.

The Secretary Economic Affairs or his Representative; Chairman & Managing Director, RITES; Chairman & Managing Director, IRCON; Chairman & Managing Director, CONCOR; Managing Director, RLDA; M/s Boston Consulting Group (India) Private Ltd; M/s Mckensey India; are the members of the committee. The Advisor (Accounts), Railway Board, Member Secretary and Ms. NMIT Mehrotra, Executive Director Finance (Resource Mobilization) will be the Associate on behalf of the Ministry of Railways.

The terms of reference for the Committee are:
  1. To study the existing revenue structure and avenues for realising revenue in Indian Railways
  2. To examine the efficacy and sufficiency of the existing revenue structure and avenue for raising revenues in Indian Railways
  3. To identify areas in the existing revenue structure for improving revenue;
  4. To identify areas for containing leakage of revenue
  5. To identifying additional avenues for generating and increasing revenues of Indian Railways
  6. To recommend ways and means for monetisation of resources of Indian Railways
  7. To identify other sources of funding for meeting the long-term modernisation, expansion and updation needs of Indian Railways
  8. To identify avenues for reduction in expenditure
  9. To identify impediments and suggest remedial measures
  10. Any other recommendation the committee may intend to make

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