An Alternative Approach to Capital Productivity and Resource Allocation on Indian Railways

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With increasing economic pressures, productivity considerations in allocation of investible resources amongst the zonal railways of India has acquired greater urgency than hitherto. Unfortunately, not much analytical work on this subject exists, though Investments on Indian Railways are to the tune of Rs. 7500 crores per annum. This book is a study of the productivity of investment on the zonal railways of India over a two decade period from a somewhat different perspective. During the course of the study it was found that the conventional theoretical structure for measuring and evaluating productivity was not applicable in the context of the zonal railways. A completely different theoretical framework has therefore been developed. Based on this framework, the productivity of investments has been evaluated for the period 1970-71 to 1992-93. This has led to some revealing conclusions and strong relationship such that they have formed the basis for an alternative approach to allocation of resources amongst the zonal railways of India. It is hoped that this work will be found of interest not only amongst railway professionals but also amongst those interested in transport economics or productivity of capital in general.

ABOUT THE AUTHOR K.B. Verma

1945, Shri Verma did M.A in Economics with special paper in Econometrics from Ranchi University in Bihar. He was awarded the University Gold for standing First in the First Division. After teaching Economics for three years in Ranchi University, he joined Indian Railway Accounts Service in 1968. He served in various capacities in the Finance Department of Railways at all level viz. the Division, Zonal Headquarter and the Ministry of Railways. He worked for almost a decade in the computer center of Indian Railways and Zambia Railways and did a consultancy assignment regarding computerisation strategy in Swaziland Railways. Shri Verma also worked in the general management branch as Additional Divisional Railway Manager in a major Division of Indian Railways, He taught Financial Management for Four year's in Railway Staff College, Vadodara, which is the apex training institute for officers of Indian Railways. Shri Verma has published seven papers on various aspects of railway finance. He is presently working as Group General Manager ( Finance ) in Rail India Technical and Economic Services ( RITES ), a Government of India Undertaking, which is internationally well known as leading rail transport consultants and engineers.