CAG Highlights Rs.26.04 Bn Financial Loss to Railways Over Interest Payments, GST

13 Aug 2024 CW Team

The Comptroller and Auditor General (CAG) of India has flagged a significant financial setback for Indian Railways, totaling ?26.04 billion. The report cites major concerns including excessive interest payments and inefficiencies in GST recovery as primary factors contributing to the loss.

The CAG's findings highlight that Indian Railways faced substantial financial burdens from interest payments on loans and borrowings. Additionally, the railways struggled with reclaiming GST refunds, further exacerbating their financial strain. These issues have had a detrimental impact on the operational efficiency and fiscal health of the railways.

The report also points out lapses in financial management and planning, which have led to unanticipated expenses and revenue shortfalls. The inefficiencies in managing GST refunds are particularly notable, with delayed or inadequate recovery impacting overall revenue.

The Indian Railways is now expected to address these issues through improved financial oversight and management practices. Recommendations include better financial planning, streamlined GST recovery processes, and enhanced transparency in financial dealings. The government and railways are under pressure to implement corrective measures to mitigate further financial losses and enhance operational efficiency.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..