Indian Railways Financial Meltdown

Indian Railways Financial Meltdown: When Dinesh Trivedi, ex-minister, announced that the Indian Railways was in ICU, it did not come as a surprise to the nation. Ever since the publication of the White Paper on Indian Railways and bringing to lime light its faulty findings, it was clear that the railways internal structure had crumbled down. The foremost cause was the coming of the new incumbent who remained in office during 2009-11 and who actually had no time to think about the railways. She was preoccupied with West Bengal affairs and the PM also gave her free hand to rule the railways. He never tried to correct her when she was wrong. This non-interference was meaningful – it was coalition compulsion – the theory which was meant to degenerate Indian governance from its very roots. Lalu Prasad left the railways with much hyped achievement of turnaround. He had set high benchmark for the new comer - Mamata Banerjee. She therefore issued White Paper so that her achievements should not be compared with her predecessor as and when she might leave the office. She was sure that her real place was in West Bengal and she did not waste time to attend Rail Bhavan regularly. When the cat is away mice play. The railways thus started deteriorating and she could manage the lowest cash balance in the history of the Indian Railways – a paltry sum of Rs. 75 Lakh only in the first year of her stewardship. The book, very courageously and passionately written by Dr.R.N.Misra, is an exhaustive critique of White Paper on Indian Railways and exposes the reality behind the nature and causes of the railways crises regarding finances and management and presents a diagnostic analysis of the syndrome relating to their meltdown and failing health. It contains 12 chapters including conclusion. Starting from Turnaround to White Paper and gradually covering details of the White Paper as a flawed report, it goes on analyzing financial and managerial syndrome and pointing out that the railways need reforms not White Paper. It also includes the drama of Roll Back or Resign – played at Rail Bhavan, directed through a remote control by the party chief with the role of a tragic hero played by Dinesh Trivedi who ultimately surrendered to the wishes of the director. The whole nation silently witnessed this perfect Shakespearian tragedy with political catharsis of a high order. The book is worth reading by people in general and the railways staff, the workers and the policy makers in particular.