Sep 8, 2016

Time to change Railways accounting practice to ‘Accrual Basis’ rather than ‘Actual Flows’

The Rail Budget is a colonial legacy, which got embedded in the system and had it being presented before the main ‘Budget’. Here’s how to have a single Union Budget, including the Railways. This is the right time for the government to change the accounting practice to ‘accrual basis’ rather than ‘actual flows’. Otherwise, linking numbers is difficult. This will make government data less confusing, transparent and of global standards!

New Delhi: Four interesting discussions are on in an area which, refreshingly, has nothing to do with the cliched issues of growth or monetary policy or any other fundamental economic indicators. These are conceptual in nature and question some long-held practices, rather than theories. They have appeared on the discussion table for resolution with several arguments on all sides.

Kerala to form JV with Railways for infra projects

The Joint Venture will be under the 51:49 equity partnership arrangement between Kerala State Government and Ministry of Railways.

Thiruvananthapuram: The state government of Kerala has decided to enter into joint venture with Railways for rail projects in the state under the 51:49 equity partnership arrangements.

BHEL, Swiss firm among six other companies show interest in Maglev Train

High-speed transport technology companies from the US, Switzerland, Germany and Japan have shown interest in the Indian Railways’ ambitious Maglev plan, but cost remains a stumbling block.

New Delhi: Makers of the magnetic levitation trains from the US, Europe and Japan have shown interest in a tender floated by Indian Railways to demonstrate the technology in India even as doubts on implementing the expensive project remain.

Jindal Rail Infra Ltd to start supplying head hardened rails in India

JSPL to become India’s first maker of Head Hardened Rails with total rail making capacity of 60,000 tonnes per month, of which 30,000 tonnes is head hardened rails. JSPL eyes Rs.3,500 Crore revenue from rail sector in next 3 years. The plant in Chhattisgarh, set up in technical collaboration with German SMS Meer Gmbh, has the capacity to deliver 30,000 tonnes of head-hardened rails per month.

Railway plans foray into radio to boost non-fare revenue



New Delhi: The Railway Ministry plans to foray into radio broadcast to provide free onboard and customised entertainment across all trains in order to boost its advertising revenue.

The Non-Fare Revenue (NFR) Directorate of Railway Ministry pegs the revenue from advertisements through onboard radio at over Rs 100 crore per year.

MIC Electronics gets patent for LED DigiPoster, bags order from Railways

Hyderabad: MIC Electronics Ltd has announced it has secured a patent for its LED DigiPoster, which the company maintains is a next generation digital display technology for various applications across the world. The patent is valid up to the year 2028.

Digi-Poster or LED DigiPoster is an intelligent, integrated LED-based, robust and rugged display device meant for use in advertisements or information dissemination, either indoors or outdoors. The poster has several inherent advantages over existing methods and can display images that are loaded or altered locally or remotely, according to the company Managing Director, M.V. Ramana Rao.

The DigiPoster supports multiple pixel resolutions, including the virtual pixel concept using MIC’s patented scan-plus technology and multiple data/ image formats as well as displays live information. This can be deployed in fixed or mobile applications.

According to the company, the market potential for devices employing this technology is extremely large. A current example is the Indian Railways’ Railway Display Network (RDN) Project.

The company was one of three companies awarded a contract for supply of a new LED-based coach light fixture to the Indian Railways. This is the Railways initial foray into this type of lighting. While this initial order will furnish lights sufficient for 60 coaches, these type of fixtures will now become standard fittings in all new Railway caches and will also be used as retrofit devices in old running coaches. This has a potential market of more than 120,000 coaches for the Indian Railways alone.

MIC was the first company to be approved for this type of coach lighting by the Indian Railways, the company stated.

Service Tax should be shared with Railways: Parliamentary Panel

New Delhi: A Parliamentary Panel has suggested sharing with Railways the service tax paid on passenger fares on specified classes and freight which is collected by Finance Ministry and pursuing the matter vigorously with the authorities concerned.

In its latest report, the Standing Committee on Railways has noted that service tax on specified classes of passenger and freight was to the tune of Rs 1478.10 crore and Rs 3449.34 crore during 2012-13 and 2013-14, respectively.

IT enabled Parcel System and Reservation on Demand by 2020 in Railways

New Delhi: With Train Collision Avoidance System (TCAS) is on the advanced stage of testing, Indian Railways are mulling for computerised parcel system and reservation on demand by 2020 in the country.

These announcements were made by the Railway Board chairman A K Mittal during his visit to Research Designs and Standards Organisation (RDSO) here yesterday.

“At present the details of all the parcels sent through Railways was being done manually and due to this many a time the parcels get lost midway or reach somewhere else than their real destinations. We are trying to aggregate the bulk and retail parcels sent through Railways. The new system will have a tracking system too so that one can know where the parcel has reached,” the chairman told reporters here after attending the Annual Governing Council Meeting of the RDSO.

Flexi Fare system introduced for Rajdhani, Duronto and Shatabdi trains

New Delhi: The Ministry of Railways has decided to introduce the flexi-fare system for Rajdhani, Duronto and Shatabdi trains, as a result, Rail fares are set to rise across the Rajdhani, Duronto and Shatabdi trains where Railways is introducing this system which will increase the ticket tariffs by upto 10% on the base price with every 10% of tickets sold.

Wipro awarded IT contract by Norway’s Railway Company NSB

Bangalore: Wipro today announced that it has won an IT contract from NSB Group, one of Norway’s largest transportation groups.

Headquartered in Oslo, NSB has extensive passenger transportation operations by way of the rail and bus, freight by rail, property management and development and train maintenance segments.

Coal hole in Railways book looms large despite unprecedented number of policy tweaks

With lukewarm power demand and change in generation scenario, the Railways is getting less coal to transport, resulting in loss of freight income

Halfway into the current financial year, the country’s largest freight mover, Indian Railways, is staring at a crisis it does not know how to tackle on its own. Since the beginning of the year, it is getting to carry less and less of the one item in its freight basket that makes or breaks its yearly revenue figures — coal.

Iran, Afghanistan initiate setting up cross-border railway in Herat


afghan-railway

Kabul: IRNA – Iranian Minister of Roads and Urban Development Abbas Akhundi and Afghan Minister of Finance Eklil Ahmad Hakimi and Minister of Public Works Mahmoud Baligh initiated setting up Herat-Khaf railway on Iran-Afghan on Wednesday. Afghanistan Ministry of Urban Development and Housing announced that the third phase of the Khwaf-Herat railway would be completed by the end of this week.
In inauguration ceremony in border district called ‘Candle & Blade’ Akhundi and Eklil Hakimi in their speeches underlined expansion of bilateral cooperation.

Railway Minister recommends end to Social Subsidies


TRAIN passengers

New Delhi: Union Minister Suresh Prabhu proposed an end to railway subsidies to defence personnel, senior citizens and students. He said that these subsidies cost around Rs 30,000 crore and should be borne by the ministries concerned. The minister has also proposed doing away with separate railway budget. For this, he has written a letter to the finance minister.

‘Medha’ Train to be launched after monsoon

The ‘Medha’ train, manufactured under the Prime Minister’s Make in India programme, were to be run on Western Railway (WR) tracks in February this year, thus saving 30 per cent in maintenance costs. But the launch of the train has been postponed to after the monsoon ends, since tests are still being run on the rake.

Declined freight traffic in every key Rail Network of the world plummets Decarbonisation Agenda

Cargo supremacy: Jury still out on roads vs railways! Over the past fifteen years, the share of freight on railways compared with roads has declined in every key rail network of the world

The plans to decarbonise Indian transport sector by carting a larger share of freight traffic on railways instead of roads doesn’t have any global success to lean on.

Need to think 10 years ahead to achieve transformational change: Suresh Prabhu

My idea is that from anywhere to anywhere in the country, one should be able to reach within 12 hours; tells Suresh Prabhu in an Interview. Minister opines that while Indian Railways is eyeing new sources of revenue and looking to focus on transformational change instead of incremental improvements, we have to think 10 years ahead for achieving it. Edited excerpts:

Q: Why are you working towards merging the rail budget with the Union budget?

वाणिज्य विभाग के टिकिट संग्राहक पीबी.-१ रु.५२००-२०२००+१९०० जीपी के रिक्त पदों को १६.६७% विभागीय कोटे के अंतर्गत भरने हेतु जरी अधिसूचना बाबत I

वाणिज्य विभाग के टिकिट संग्राहक पीबी.-१ रु.५२००-२०२००+१९०० जीपी के रिक्त पदों को १६.६७% विभागीय कोटे के अंतर्गत भरने हेतु जरी अधिसूचना बाबत I

Services unhappy with pay panel order

Services unhappy with pay panel order




 

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