Piyush Goyal is the Union Minister for Railways and Coal, holding the additional charge of Finance and Corporate Affairs. He is widely viewed as one of the most important policy minds in the government. Goyal spoke to Kumar Uttam and Prashant Jha about the performance of railways as the government marks its fourth year. Edited excerpts:
The operating ratio of railways is projected to be at over 98% for last year. Does it indicate poor health of the Railways? It’s logical with a Rs 22,000 crore additional burden on account of the seventh pay commission. We are adding 12.5% straight away to cost – 12.5% of your topline.
That (operating ratio) was bound to deteriorate, but we are working towards efficiency measures and quite confident that better purchasing, better focus on capacity utilization will bring us back on track.
And we are also looking at significant investment to improve average speed, increase capacity, complete dedicated freight corridors in time. I am trying to see how we can by 2025 double the revenues of the railways. Read More