USD 47 billion worth Projex Shelved

According to the data released by ProjectsToday.com in India during the first six months of the current fiscal (April-September 2012) around 727 projects entailing a total project investment of Rs 254,280 crore (USD 47 billion) were shelved by their respective promoters. Last fiscal during the same period, 333 projects worth Rs 97,714 crore (USD 18 billion) were shelved.

Private companies, which are quick to shelve their unviable projects, dropped around 456 projects, while the government agencies accounted for the remaining non fructified projects.

Not Ro-Ro, Rail on Lorry

The day will not be far off, if the Indian Railways fail to modernize their stocks (coaches, railway lines, signals, etc.), its coaches will have to be moved around by Indian Lorries, as shown in the below picture!

It is high time the Railway Board take up modernization program on priority basis and go slow on new projects. Railway Board many a times is forced to take up new lines/projects due to political pressure. These projects though economically unviable are taken up under the garb of socially desirable. As a result, most of the projects remain in papers for long.

According to ProjectsToday.com, as of 31 October 2012, there were 760 railway projects costing USD 85 billion. Indian Railways with a network of 63,974 km carry around 7 billion passengers and 833 million tonne of freight traffic every year.



Rail on Lorry, Indian Style!