The proposed Indian Railway Corporation would be “an independent corporatized, customer-focused and financially viable railway, run along commercial principles and subject to generally accepted corporate accounting principles and reporting”
# The ministry had rejected the Rakesh Mohan committee proposal to restructure the railways in 2001
# Trade unions, representing more than 1.4 millionworkers, opposed any move to corporatize, fearing privatization
#...but, Indian Railways Catering and Tourism Corp. Ltd has helped corporatize many operations
# Build-own-lease-transfer projects have been introduced and catering outsourced to private contractors
# Stations will nowbe developed through public-private partnerships.
# Private operators have entered the container transportation segment