Indian Railways, one of the world’s largest transport networks, is in considerable financial trouble. Despite carrying millions of passengers, it recovers barely half the cost of each journey. Freight earnings are propping up passenger services and ticket prices remain politically sensitive. In fact the Railways is increasingly relying on borrowings and Budget support for their capital investments.

In this episode, we unpack the data behind the crisis, examine why even premium classes are losing money, and ask the big question: can fare hikes save the Railways without driving passengers away?

Guest: A. Madhukumar Reddy, a 1987-batch Indian Railway Traffic Service officer who retired as Principal Executive Director of the Railway Board.

Host: Vignesh Radhakrishnan

Edited by Jude Francis Weston

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