Railway Ministry sets up D K Mittal Committee for improving financial health of Indian Railways
Railway Ministry has set up a committee under the chairmanship D K Mittal, former secretary, financial services, to examine the existing revenue structure and suggest ways and means for raising earnings of Indian Railways.
It will be nine-member panel and has been given a timeline of 18 days for submitting its recommendations i.e. it will submit report by 21st December 2014.
The committee will focus on studying the efficacy and sufficiency of the existing revenue structure and avenues for raising revenues besides identifying leakages of revenue. On the expenditure side, the committee would suggest measures for reduction in spending.
The recommendations of this committee will help Government to take certain concrete measures which will be presented to Parliament in the Railway Budget for 2015-16 in February.
Members: Financial secretary, Railway Board, chairmen and managing directors of railway public-sector units- RITES, Ircon and Conco, managing director of Railway Land Development Authority. Two members from Boston Consulting Group (BCG) and Mckinsey India will be members on the panel.
Background:
- This is the third expert panel on railways being set up after the NDA government assumed charge.
- First: Debroy Committee was announced to suggest restructuring in the Railway Board.
- Second: The Sreedharan Committee to recommend changes in tendering process.
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Month: Current Affairs - December, 2014