NEW DELHI: The Indian Railways failed to improve on mobility outcomes despite investing Rs 2.5 lakh crores on track infrastructure during 2008 to 2019, the federal auditor, CAG has found. It has also flagged how the railway PSU, Container Corporation of India Limited (CONCOR), met with Rs 85.69 crore loss for its \u201cimprudent decision\u201d of opting for paying advance amount to the national transporter in March 2019 for movement of future freight.
\nThe CONCOR had made the payment just before the end of financial year 2018-19, which had helped the railways to paint a rosy picture of its finances. It had deposited first instalment of Rs 3,000 crore and for this the company had encashed Rs 2,300 crore fixed deposits and had also taken a working capital loan of Rs 700 crore at an interest rate of 8.45%.
\nIn the report, which was tabled in the Parliament on Wednesday, the CAG has concluded that \u2018Mission Raftaar\u2019, which was introduced in 2016-17 with a targeted average speed of 50 kmph for mail or express trains and 75 kmph for freight by 2021-22, did not bring the desired results. The average speed of mail\/ express and freight trains was still around 50.6 kmph and 23.6 kmph respectively. <\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: The Indian Railways failed to improve on mobility outcomes despite investing Rs 2.5 lakh crores on track infrastructure during 2008 to 2019, the federal auditor, CAG has found. It has also flagged how the railway PSU, Container Corporation of India Limited (CONCOR), met with Rs 85.69 crore loss for its \u201cimprudent decision\u201d of opting for paying advance amount to the national transporter in March 2019 for movement of future freight. The CONCOR had made the payment just before the end of financial year 2018-19, which had helped the railways to paint a rosy picture of its finances. It […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,260,137],"tags":[],"class_list":["post-483090","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-railways-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/483090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=483090"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/483090\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=483090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=483090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=483090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}