Railways Lose Billions: Private Siding Owners Owe Rs 4087.33 Crore

A Comptroller and Auditor General of India report reveals Indian Railways failed to recover Rs 4087.33 crore from 269 private siding owners by March 2023. Despite Railway Board's 2017 directive for recovery, lack of agreements, unissued bills, and poor monitoring hindered debt collection from private sidings.

The Indian Railways are grappling with a significant financial lapse, as revealed by the Comptroller and Auditor General of India (CAG). According to a recent report, the Railways have been unable to recover outstanding dues worth Rs 4,087.33 crore from private siding owners as of March 2023.

Private sidings, which are crucial links between railway lines and company premises, have seen many agreements go unfulfilled. Out of 1,007 operational private sidings, agreements for 22 remain unexecuted, and 147 haven't been renewed, causing major setbacks in financial recovery.

The CAG has recommended improved monitoring and IT applications to streamline and expedite charge recoveries. This step aims at strengthening internal controls and ensuring timely dues collection, a necessity emphasized by the Railways' struggle to align internal processes with extant instructions.

(With inputs from agencies.)