On his rating for the Railways
The Railways' condition was more precarious than a patient in ICU. I have been in the office of the Railways for over five months now. I can't expect the patient to participate in a marathon immediately.
I have identified the problems of the Railways in my white paper. I did not just leave it at that. I addressed all those concerns for the next five years in my Budget speech. So, my job is to implement the Railway Budget. In the first 36 days after the Budget, I implemented 39 points. Already, each and every announcement has been converted into an actionable point. The implementation of each actionable point is monitored by the chairman of the Railway Board and myself every fortnight. And the monitoring is done online.
So, what's the Railways' problem? It's in my white paper. And then, what's the solution? It's in the Budget. So, we just need to implement those points.
On his big achievements in the Railways in the past year
The Budget itself is a major achievement. The problems of the Railways can't be solved by tinkering here and there. And I don't want to do that either. So, I am focusing one every issue: customer service, safety, modernisation, technology upgradation etc.
On whether his decision not to announce any new train in the Rail Budget will be a permanent feature in forthcoming Budgets too
We will announce new trains at the right time. How can this be related to the Budget, which is a financial document; a policy statement; a vision statement for the government.The issue of new trains is an operational one. I can announce a new train today. I can announce a new stoppage to a train today. That has nothing to do with the Budget.
If you don't have anything new and innovative to say in the Budget, you announce new trains. That's at least the feeling people had earlier.Look, if I want to announce a new train, I don't need to go and get Parliament's approval. But if I take a new policy, I will definitely need to.So far as pricing is concerned, we are setting up a new regulator. It will take a call on pricing.
On how he will raise the funds needed for the Railways when its finances are in such a bad shape
Our proposed investment plan is about eight and half lakh crore for five years (2015-19). And we know where from that amount will come from. We are getting `1.5 lakh crore from LIC (Life Insurance Corporation of India). We are getting re sources from the World Bank and Asian Development Bank. We are at an advanced stage of negotiations with them. We will raise money from tax-free bonds as was announced by the finance minister in his Budget speech. More than half of the corpus of the National Investment and Infrastructure Fund proposed in the Union Budget should come to the Railways.Also, the finance ministry gives us `40,000 crore to `50,000 crore every year and the finance minister says he will give us more. That itself will be `2.5 lakh in five years.
On why he hasn't factored in FDI in his investment plan
FDI will come in any which way. But even if one dollar does not come through FDI, I know how to meet my investment target. FDI money will be supplementary. I can raise my investment plan then. But the Railways should not be judged by whether we are getting FDI or not.
On the status of the highspeed train projects
The feasibility study being prepared by the Japanese experts should be available in the next couple of months. I have met six to seven Japanese ministers who came here. The Japan embassy officials are meeting us regularly. Our team has been meeting them. Once the feasibility study is ready, we will work on the funding part. Japan has offered to fund this entire project through their ODA (overseas development assistance) route...The government of Japan is ready to finance everything (including rolling stock). But I must follow the due process. Let the feasibility study come first.
(Economic Times dt 17-5-2015)
The Railways' condition was more precarious than a patient in ICU. I have been in the office of the Railways for over five months now. I can't expect the patient to participate in a marathon immediately.
I have identified the problems of the Railways in my white paper. I did not just leave it at that. I addressed all those concerns for the next five years in my Budget speech. So, my job is to implement the Railway Budget. In the first 36 days after the Budget, I implemented 39 points. Already, each and every announcement has been converted into an actionable point. The implementation of each actionable point is monitored by the chairman of the Railway Board and myself every fortnight. And the monitoring is done online.
So, what's the Railways' problem? It's in my white paper. And then, what's the solution? It's in the Budget. So, we just need to implement those points.
On his big achievements in the Railways in the past year
The Budget itself is a major achievement. The problems of the Railways can't be solved by tinkering here and there. And I don't want to do that either. So, I am focusing one every issue: customer service, safety, modernisation, technology upgradation etc.
On whether his decision not to announce any new train in the Rail Budget will be a permanent feature in forthcoming Budgets too
We will announce new trains at the right time. How can this be related to the Budget, which is a financial document; a policy statement; a vision statement for the government.The issue of new trains is an operational one. I can announce a new train today. I can announce a new stoppage to a train today. That has nothing to do with the Budget.
If you don't have anything new and innovative to say in the Budget, you announce new trains. That's at least the feeling people had earlier.Look, if I want to announce a new train, I don't need to go and get Parliament's approval. But if I take a new policy, I will definitely need to.So far as pricing is concerned, we are setting up a new regulator. It will take a call on pricing.
On how he will raise the funds needed for the Railways when its finances are in such a bad shape
Our proposed investment plan is about eight and half lakh crore for five years (2015-19). And we know where from that amount will come from. We are getting `1.5 lakh crore from LIC (Life Insurance Corporation of India). We are getting re sources from the World Bank and Asian Development Bank. We are at an advanced stage of negotiations with them. We will raise money from tax-free bonds as was announced by the finance minister in his Budget speech. More than half of the corpus of the National Investment and Infrastructure Fund proposed in the Union Budget should come to the Railways.Also, the finance ministry gives us `40,000 crore to `50,000 crore every year and the finance minister says he will give us more. That itself will be `2.5 lakh in five years.
On why he hasn't factored in FDI in his investment plan
FDI will come in any which way. But even if one dollar does not come through FDI, I know how to meet my investment target. FDI money will be supplementary. I can raise my investment plan then. But the Railways should not be judged by whether we are getting FDI or not.
On the status of the highspeed train projects
The feasibility study being prepared by the Japanese experts should be available in the next couple of months. I have met six to seven Japanese ministers who came here. The Japan embassy officials are meeting us regularly. Our team has been meeting them. Once the feasibility study is ready, we will work on the funding part. Japan has offered to fund this entire project through their ODA (overseas development assistance) route...The government of Japan is ready to finance everything (including rolling stock). But I must follow the due process. Let the feasibility study come first.
(Economic Times dt 17-5-2015)
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