A complete makeover for Railway sector is expected in the Railway Budget 2014. With Narendra Modi hinting more privatisation in railways, private sector may have to handle a bigger role after the Budget 2014. Now all eyes are on the Railway Minister Sadananda Gowda who will present the Rail Budget 2014.
We list some of the expectations if private players get a place in Indian railways:
Corruption under control
Privatisation in railways is a necessity now as it will help control corruption in the sector which will eventually increase productivity and thus improve the profits. This can also ensure control the prize hike and keeping the rail fares under check.
Better infrastructure
Narendra Modi’s plan for the upcoming budget suggests that there would be better infrastructure. In his speech during the inauguration of Katra line in Jammu he had said, “We want the railway stations to have better facilities than airports. This is our dream and it is not a difficult thing to do and this is economically viable too. I have discussed it in detail with my Railway friends. You will see a change in near future.” He also said that Railway stations in metros and important cities would be the priority of the government.
Win-win situation
Narendra Modi while addressing a gathering at the inauguration of the Katra Railway line stressed on a change that the nation would get to see in the Indian Railways very soon. He then mentioned about the private parties who would be allowed to invest in it as it would benefit everyone economically. He said, ”In that, private parties would also be ready to invest because this is a good project economically and will benefit everyone. This would be a win-win situation project and we want to move ahead in this direction in the coming days,” he said.
Ensuring privatization is believed to prove as a boon for the Railways. If handled judiciously it can help in improving the condition of one of the largest railway networks.