Rakesh Mohan Committee, 2002

The Committee observed that Indian Railways over the decade between 1991 to 2002, has fallen into a vicious cycle of under investment, mis-allocation of scarce resources, increasing indebtedness, poor customer service and rapidly deteriorating economics. The root cause of the decade of decline is an unstable political system increasingly driven by short-term political compulsions.

• This Committee came up with radical suggestion of corporatization of Indian Railways.
• The government would need to set up an Indian Rail Regulatory Authority (IRRA), which would be necessary to regulate IRC’s activities as a monopoly supplier of rail services.
• These were radical and politically, ahead of their time and were soon neglected by the government.