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, misallocation of scarce resources, increasing indebtedness, poor customer service and rapidly deteriorating economics. The root cause of this 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.