India, which has been treading China's footsteps right from growth, FDI inflow to infrastructure, is lining up major reforms for its railways although it may adopt less painful" measures to improve efficiency and service of the public utility for making it a major revenue earner in the coming years.
After turning around from the verge of bankruptcy in 2001, the Railways have approached the World Bank for a $150 million assistance to fund its long term investment and development plan, which is under preparation.
The plan would help meet the growing demand arising from accelerating economic growth, a top railway official said on Monday.
Geetha Thoopal, additional member (finance) in the railway ministry told a conference organised by World Bank that Indian Railways can emulate China's railway in certain areas like scaling up investment to increase capacity, improving services, cutting unit cost of transport and separating non-core activities.
Though she led a high-level IR delegation to China recently to learn lessons from its experiences, bureaucrats in New Delhi think that the Chinese "medicines" may not be the perfect remedy for the ills afflicting Indian Railways.
However, Thoopal is confident the exercise would work out fine. Besides, IR can also improve asset reliability through higher maintenance standards, increasing use of IT in management, upgrade technology in rolling stock, track signalling and operational management.
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