Wednesday, March 30,
According to Samar Jha, the outgoing financial commissioner of the Railways, “the ban in iron ore exports have impacted our revenue by Rs.2, 100 crore.* We cannot, however, put a figure on how much it will impact our profit. Such traffic moves in specific lines that only move iron ore. So, those lines remain unutilized. The wagons have, however, moved to coal.”
In 2011-12, the Indian Railways will, for the first time, borrow money from the market by selling tax-free bonds. The state-owned body has ambitious plans for modernizing its aging infrastructure and enhancing capacities.
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