India to establish independent rail regulator
India’s cabinet approved a proposal on April 5 to establish an independent rail regulator, which will be responsible for setting Indian Railways’ (IR) freight and passenger tariffs and ensuring a level playing field for stakeholders and investors. an independent regulator for the Indian Railways that will be empowered to set fares. Except that its name will neither have the words 'independent' or 'regulator'. The Rail Development Authority (RDA) - which will comprise a chairman and three members – will set efficiency and performance standards for IR on the basis of “global benchmarking parameters”. It will have the powers to engage experts from other fields. The RDA is expected to revive investor sentiment, as it will ensure greater continuity on the railway when a change of government occurs. With the setting up of the regulator towards the fourth quarter of 2017, passenger fares on the IR network - which have remained hugely subsidised in recent decades - ar...