Tuesday, 1 September 2015

Railways on Zero-accident Mission

  • The Railways will launch a zero-accident mission envisaging 
    • renewal of tracks, 
    • more railway bridges, 
    • better signalling and 
    • rolling out of accident-proof coaches and engines
      railway safety
      Source: The Hindu

  • Why such a move?
    • Train accidents, delay of trains and deterioration of service, which is seen today, all are happening because of the underinvestment in the past. The ‘zero-accident mission’ is an expensive proposition, but that is the only way to have safe travel
  • Significance:
    • accident rate will go down and 
    • speeds will improve, 
    • facilities will improve, 
    • quality of service will go up and 
    • revenue will increase. 
    •  Customer experience will go up significantly
  • Funding?
    • prudential borrowing from institutions such as the LIC, the World Bank and other multilateral agencies, which would be repaid in the next 30-40 years through an increase in revenues
    • increasing the transparency and efficiency of the Railways by bringing in a change in the accounting system, which was key to attracting investments.

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