NEW DELHI:
In its 23rd report of 2022, the government’s auditor said the Railways’ Depreciation Reserve Fund (DRF) meant for replacement and renewal of assets was “insufficient”; that only ₹671.92 crore was spent from the fund 2020-21 even as ₹58,459 crore was required for track renewals alone that year.
To be sure, the Balasore accident is believed to have been caused by a malfunction of or interference with either a signal or an interconnection or both, according to a preliminary report.
Only a detailed investigation can ascertain the reason for the crash involving three trains that resulted in the deaths of at least 275 people. And to be sure, not all overage tracks are unsafe or unusable.
Government officials, who asked not to be named, said that the actual trend of expenditure on track renewal on Indian Railways has increased from ₹47,039 crore between 2004-05 and 2013-14 to ₹1,09,023 crore between 2014-15 to 2023-24 (budget estimates), reflecting an increase of over 100%.
But the government’s auditor still found the spends wanting. Data from the Centre for Monitoring Indian Economy (CMIE) also suggested that some of the increase may have been caused by higher costs.
Railways maintains DRF for replacement and renewal of assets, the CAG report said. “During 2020-21, ₹400 crore was appropriated against the BE of ₹1,000 crore and ₹671.92 crore spent from the fund. The amount is insignificant compared to the actual amount required for the renewal and replacement of over aged assets,” it said.
هذه القصة مأخوذة من طبعة June 06, 2023 من Hindustan Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة June 06, 2023 من Hindustan Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
India's trade gap with China soars during Apr-Oct
India's merchandise trade deficit with China has risen 13% during the first seven months of the current fiscal year, despite government measures aimed at cutting reliance on the Asian manufacturing major and restrictions on import of certain products from the country.
DISNEY TARGETS $1 BN STREAMING PROFIT IN NEW FISCAL YEAR
Old Hollywood is finally doing what Netflix Inc. has been doing for over a decade: making money from streaming.
Small businesses ramp up cyber security, thanks to AI
Small businesses are ramping up adoption of managed cyber security services to take on an increasing volume of cyber threats, with security providers using artificial intelligence (AI) to reduce the cost of their services.
Govt plans two e-comm export hubs in Delhi
India will set up at least two e-commerce export hubs in New Delhi through public-private partnership by February 2025, aiming to ship unique goods worth $200-300 billion from the country's remote areas to overseas markets by 2030, and help achieve the $1 trillion merchandise export target in the next six years, two officials said.
Cement makers go frugal to survive a bruising price war
India's cement makers who once flexed their pricing muscles are caught in a bruising price war, eroding margins at a time of rising demand.
Moody's sees growth, lower inflation for India
Moody's forecast for 2024 aligns with RBI's projection of a 7.2% GDP growth for FY25
Incentive engine set to power high-technology, green ships
India will provide additional incentives to encourage domestic shipyards to develop fuel-efficient and technologically advanced vessels as part of its ambitious plans to transform the country's shipping industry.
Scholz urges Putin to seek peace in first call on Ukraine war since 2022
German Chancellor Olaf Scholz on Friday urged Russian President Vladimir Putin to engage in peace talks with Ukraine, in the first call between the leaders in almost two years.
40 held amid tense soccer match in Paris
Police made 40 arrests at a tense football match between France and Israel in Paris but the city's police chief said on Friday the huge security operation had \"worked very well\".
Lunar volcanoes shaped both sides of the moon: Report
{BILLIONS OF YEARS AGO} RESEARCHERS ANALYSED LUNAR SOIL BROUGHT BACK BY CHINA'S CHANG'E-6
