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Rly budget calls Modi’s bluff
I love Railways. Railways will not be privatized,” asserted Prime Minister Narendra Modi. The media flashed PM’s emotional statement in headlines. But a plain reading of the Railway Minister’s budget speech reveals completely contrary picture. The critiques call it backdoor privatization.
Railways already heading for privatization: Cong
New Delhi: “I love Railways. Railways will not be privatized,” asserted Prime Minister Narendra Modi. The media flashed PM’s emotional statement in headlines. But a plain reading of the Railway Minister’s budget speech reveals completely contrary picture. The critiques call it backdoor privatization.
But Modi supporters euphemistically describe it as public private partnership (PPP). The fact, however, reminds that Modi dispensation embarked upon a massive private participation in various sectors and activities of the Indian Railways.Terming as bluff Modi`s assertion that Indian Railways will not be privatized, the Congress has said that it is already headed for it in view of the Cabinet`s green signal to 100 per cent FDI in the Railways. Stating that internal revenue sources and government funding are insufficient to meet the infrastructure requirement, the Railway Ministry sought FDI in this sector in his budget.
The ministry intends to provide passenger amenities through private entity. The Railway budget proposed to introduce specially-packaged trains for Special Pilgrim Circuits. Private participation in this area will also be encouraged. The Railway budget proposed many more private initiatives. The resource mobilization using land assets will be explored through private participation.
Indian Railways has taken up port connectivity on a priority through PPP mode of funding. The Railways will facilitate connectivity to the new and upcoming ports through private participation. Private Investment will also be invited in setting up Railway Logistics. Private participation will also be promoted in parcel movement. To develop network of freight terminals, policy of Private Freight Terminals on PPP model is being further refined.
