This refers to the report “Govt aid, debt to drive Mamata’s gravy train” (February 26). The Railway Budget is nothing but a veil of bankruptcy. There is no avenue for generating revenue, and implementing railway projects seems unlikely. Before presenting the Budget, Railway Minister Mamata Banerjee asked the government to double the budgetary support to Rs 39,600 crore. The railways does not have enough money to put into its two critical reserves — the Capital Fund and the Development Fund, which are used to buy and upgrade assets and improve passenger amenities. The railways failed to put even a single rupee into the Capital Fund last year. Under Banerjee’s stewardship, the Indian Railways has registered a sharp decline in earnings and a steep rise in expenditure. Also, the railways has consistently resisted the Planning Commission’s proposal to set up a statutory regulator to fix rates.
Sankar Lal Singh, on email
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