D.K.Mittal Committee submits report on raising Railways revenue

DK Mittalनई दिल्ली New Delhi: The D K Mittal Committee, formed to suggest ways and means to raise the revenue of Indian Railways, today submitted its report to Railway Minister Suresh Prabhu here.

The report is crucial for railways as its recommendations is expected to help the ailing national transporter to take certain concrete measures which would be presented to Parliament in the Rail Budget for 2015-16 in February.

Railway Ministry had set up the nine-member committee on December 4 under the chairmanship of former Secretary (financial services) D K Mittal to examine the existing revenue structure and recommend ways to raise fund for the ailing public sector behemoth.

The Committee, in its report, is learnt to have given a detailed study on the efficacy and sufficiency of the existing revenue structure, and avenues for raising income besides identifying its leakages.

On the expenditure front, the Committee has suggested certain measures for reduction in spending.

“The report was submitted today and now all its recommendations would be examined in details by the concerned officials before initiating action on it,” said a senior Railway Ministry official.

The other members of the committee include, Chairmen and Managing Directors of railway PSUs — RITES, Ircon and Concor and Railway Land Development Authority.

The other two members on the panel were from Boston Consulting Group (BCG) and Mckinsey India.