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Thursday, February 26, 2015

Railways Intends to set up a Working Group to Modify the Present System of Accounting

The Union Railway Minister Shri Suresh Prabhakar Prabhu has informed that the Railways intends to set up a working group to modify the present system of accounting, to ensure tracking of expenditure to desired outcomes. Introducing the Railway Budget for 2015-16 in Parliament today he said that Railways have limited resources and thus must ensure that all public expenditure results in an optimal outcome. The data on costing would be available online including costs incurred on constructing, augmenting, maintaining and operating railway lines. This would also help in undertaking post commissioning evaluation studies.
He informed the members that Railways proposes to have the train operations audited with a view to increasing productivity and bringing in transparency. 

Railways is also proposing to expand paperless working in our material management system. In line with focus on ease of doing business, it will digitally integrate our vendors through Vendor Interface Management System to provide single window interface to vendors.
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