Debroy, however, dismissed reports that a new committee of NITI Aayog has made a similar recommendation
Seventh Pay Commission to hit spending on infra development
Banerjee was the Railway minister between 2009 and 2011 during the UPA-2 regime
This would be the first time, that the Indian Railways will go to the international markets to fund its investment plans
The proposal is being considered against the backdrop of a decline in both passenger and freight earnings and the additional burden of Rs 32,000 cr towards implementing the 7th CPC recommendations
The second of a four-part series on core sector looks at the Indian Railways, which has few positives to show in its finances. Falling passenger volumes continue to dent operations, and the ambitious target of 85 mt additional freight loading during FY16 is unlikely to be met
Currently, Railways has undertaken Rs 81,459-crore projects to develop 3,342-km track, comprising Eastern and Western DFC
Officials say raising freight tariffs significantly not on the cards, and a steep rise in passenger fares also unlikely
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