Railways: Fast train to oblivion

Operating ratio, the ready reckoner of financial health of an organisation, of Indian Railways was just over 95% last year, inching closer to 100%, and may overtake this by the time Dinesh Trivedi takes the floor of the house to present his annual Rail Budget for 2012-13. For the first time in its over 157-year history, the 1.4-million strong behemoth headed by him would be in the unenviable situation of having to spend more than it earned. Some would call it bankruptcy but, with the government ever ready to pick up the tab, it is only a passing phase. Or is it?

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