DESPITE A SHARP rise in capital expenditure by the railways over the last few years, the national transporter's operating ratio still hovers around 100, meaning it makes little operational surplus. This is mainly because efficiency gains and new revenue streams from the assets created come with a lag.
Another Aspect of the aggressive capex drive is that it relies largely on Budget outlays and borrowings via IRFC and other sources, and private participation in projects at best have begun to look up.
For the third year in a row, the government extended robust budgetary capex support for the railways to aid its capacity creation. The budget outlay is 2.4 trillion for FY24, up 50% on year and accounted for nearly a fourth of the Centre's 10 trillion overall capex outlay for next year.
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