The biggest gain from abandoning the colonial practice of a Railway Budget presented separately is removal of the compulsive politics of starting new trains every year through the railway minister’s constituencies. No new train has in fact been flagged in the past two budgets even if they were presented separately. There is some pragmatic acceptance of the fact that services on existing lines and trains need to improve. The behemoth that is Indian Railways has to transform if it is to get over operational inefficiencies that see expenditure of 95 paise to every rupee earned. Changes in funding patterns, with the proposed listing of three railway PSUs on stock markets, should ease liquidity concerns and it’s high time the Railways moved towards becoming a modern transport provider for millions of passengers.
The focus in this year’s budget was on rail safety, while the highest ever capital expenditure, of Rs 1.31 lakh crores, was earmarked for the Railways this year. The capex will serve to modernise the running stock by abandoning old ICF coaches and improving lines and stations, but the fact remains safety is still the biggest public concern, particularly after a horrific string of accidents in the past few months took a huge toll of lives. What might help is the impressive Rs 1 lakh crore fund to be built up in the next five years, though as a show of intent the finance ministry has already allocated Rs 15,000 crores. While rail tickets may now be available more easily, without any service charge, passengers still ride trains with a prayer on their lips.
