Railways may soon start issuing results quarterly: Suresh Prabhu

News:

• Indian Railways, one of the country’s largest commercial enterprises, plans to start issuing quarterly account statements.
• Railway Minister Suresh Prabhu told that this is one of the changes that the state-run monopoly is planning and the move is aimed at improving transparency as the government looks at attracting billions of dollars in investment.
• The railways is undertaking massive accounting reforms to ensure tracking of expenditure.
• It also dwelled on the revenue mix and key expenditure areas, information that will be made public every quarter.
• Cash-strapped Indian Railways, the world’s largest passenger network and fourth-largest cargo carrier, is targeting $120 billion of investment in the next five years.

Source: ET