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Behind Lalu’s ‘surplus’ claim: A shift in accounting policy

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    • Raghvendra Rao Tags : Posted: Friday , Sep 14, 2007 at 0033 hrs

    Accounting for the surplus

    The claim

    “The Railways is poised to create history by

    generating a cash surplus before dividend of

    Rs 20,000 crore in 2006-07, as against Rs 14,700 crore in the previous year.”

    — Railway Minister Lalu Prasad Yadav, presenting the Railway budget in February

    The reality

    Of the Rs 20,153.5 crore cash surplus before dividend declared by the Railways, Rs 2,690 crore (13.5%) is the result of a change in accounting procedures relating to three entries:

    Lease charges payable to IRFC: Rs 1,720.12 crore

    Interest on Railways fund balances: Rs 660.85 crore

    Losses on strategic lines: Rs 309 crore

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    even superfast trains' claim is falseBy: kalpana chauha | 12-Jul-2009 Reply | Forward Perhaps Indian express should also fill and RTI application to find out how much railways gained by changing the name(only name) of some trains to superfast/express thereby charging additional superfast charges on each ticket.
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