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Blog Entry# 427137
Posted: May 16 2012 (18:12)
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NEW DELHI: Noting that the Indian Railways are in the red financially and have not been able to meet the cost of operating passenger and other services, the Comptroller and Auditor General Tuesday said the national transporter should rationalise both passenger and freight tariffs and explore alternate sources of financing.
"There is heavy cross-subsidisation from freight services to passenger services... percentage of freight earnings used to subsidise the losses on passenger and other coaching services ranged between 15.80 percent and 34.32 percent during 2007-08 to 2009-10," said the latest CAG report on railways tabled in parliament Tuesday.
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"There is heavy cross-subsidisation from freight services to passenger services... percentage of freight earnings used to subsidise the losses on passenger and other coaching services ranged between 15.80 percent and 34.32 percent during 2007-08 to 2009-10," said the latest CAG report on railways tabled in parliament Tuesday.
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more...