Railways may soon start issuing results quarterly: Suresh Prabhu

By Palak Shah, ET Bureau

MUMBAI: Indian Railways, one of the country’s largest commercial enterprises, plans to start issuing quarterly account statements in what could be one of the most significant reform initiatives of the Narendra Modi government.

Railway Minister Suresh Prabhu told top foreign investment banks and brokers at a closed-door meeting at the BSE on Friday evening that this is one of the changes that the state-run monopoly is planning. The move is aimed at improving transparency as the government looks at attracting billions of dollars in investment.

Currently, information on accounts is available in the annual railway budget. Quarterly disclosures will help investors get a sense of the actual picture though a lot will depend on what information is provided, economists said. More info

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