The Indian Railway Accounts Service (IRAS) Holds Its IRAS Day

The Financial Commissioner, Railways, Shri Sanjoy Mookerjee addressing at the Indian Railway Accounts Service (IRAS) Day Celebrations, in New Delhi on November 28, 2015.
The Indian Railway Accounts Service (IRAS) Holds Its IRAS Day

A Conference Of Financial Advisors Of All Zonal Railways Held To Mark The Day 

The Agenda For Conference Included Efficiency Measures To Optimise Expenses And Enhance Revenues And The Impact Of The Recommendations Of The 7th Central Pay Commission

Financial Commissioner, Railways, Shri Sanjoy Mookerjee Exhorts All Iras Officers Across The Country To Put In Their Utmost Efforts Towards Ensuring The Success Of The Innovative Initiatives Being Taken To Make Indian Railways A Vibrant Organisation

The Indian Railway Accounts Service (IRAS) of Indian Railways held its IRAS day on November 28, 2015 at Maneckshaw Center, New Delhi. Way back in November 1920, the British Parliament constituted the Acworth committee to study the finances of railways in India. As a recommendation of this committee a separate accounts service, the Indian Railways Accounts Service was constituted. Hence, IRAS day is celebrated every year in November.
To mark this day, a conference of financial advisors of all Zonal Railways was held.  The agenda for discussion includedefficiency measures that could be taken to optimise expenses and steps taken to enhance revenues.  The impact of therecommendations of the7th Central Pay Commission was also deliberated upon. 
            The Financial Commissioner, Railways, Shri Sanjoy Mookerjee, addressed the gathering of present and retired IRAS officers.  He shared his thoughts on cost consciousness across all domains, innovative measures for financing and expediting infrastructure works to enhance throughput.  He exhorted all IRAS officers across the country to put in their utmost efforts towards ensuring the success of the innovative initiatives being taken to make Indian Railways a vibrant organisation. He also emphasised on the development of the manpower of Indian Railways.
            With a view to encouraging knowledge sharing, three IRAS officers presently working outside Indian Railways, were invited to make presentations in their areas of specialisation.  These included ShriNarendrafromMinistry of Defence,ShriSanjeevaShiveshCEO, Entrepreneurship School and Shri Bharat Salhotra, MD, Alstom Transportation Services, India. 
            The chief guest on the occasion was retired Financial Commissioner (Railways), Shri V. Sivakumaran. 

Formal Contract Agreement Signing Ceremony For The Two Rs.40,000/- Crores High Horse Power Hi-Tech Best-In-Class Modern Locomotive Joint Venture Factory Projects (Electric Locomotive Factory At Madhepura And Diesel Locomotive Factory At Marhowra - Bihar) Will Take Place On 30.11.2015 In New Delhi. 
The formal contract agreement signing ceremony for the two Rs.40,000/- crores High Horse Power HI-TECH best-in-class modern locomotive Joint Venture factory projects (Electric Locomotive Factory at Madhepura and Diesel Locomotive Factory at Marhowra - Bihar) will take place on 30.11.2015 in New Delhi. This signifies a giant leap for the nation’s biggest ever “Make in India” initiative. The signing ceremony will take place in the august presence of Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley, Minister of Railways, Shri Suresh Prabhakar Prabhu, Union Minister of State for Commerce and Industry Smt. Nirmala Sitaraman, Minister of State for Railways Shri Manoj Sinha. Union Ministers and Members of Parliament hailing from Bihar are also expected to grace the occasion. It is a momentous occasion for Indian Railways as well as for the nation.

On this occasion, Ambassador of USA to India H.E. Mr. Richard R. Verma, Ambassador of France to India H.E. Mr. Francois Richier, Chairman, Railway Board, Shri A.K. Mital, Railway Board Members, Secretary, Department of Industrial Policy and Promotion (DIPP), GoI Shri Amitabh Kant, both the JV partners(of the two proposed locomotive factories) namely CEO, M/s GE TRANSPORT, USA Ms Jamie Miller; CEO, M/s ALSTOM, FRANCE Mr. Henri Poupart-Lafarge will be among those present.

Earlier this month, Indian Railways achieved an important milestone when it awarded Letters of Acceptance(LoA) for setting up two modern locomotive factories – one Diesel Locomotive Factory (DLF) at Marhowra and the other Electric Locomotive Factory(ELF) at Madhepura, both in Bihar. These two factories are the excellent example of biggest “Make in India” initiative ever undertaken by Indian Government. While the contract for DLF Marhowra has been awarded to a USA – based Company M/s GE Global Sourcing India Pvt. Limited, the contract for Madhepura ELF has been awarded to a France – based Company M/s Alstom Manufacturing India Limited. These two factories also mark the flow of FDI in the Railway sector.

DLF Marhowra will manufacture and supply modern diesel electric locomotives of 4500 HP and 6000 HP (which in combination can operate as 9000 HP and 12000 HP multiple units). ELF Madhepura will manufacture and supply modern electric locomotives of high horse power namely 12000 HP. Under the agreement, 1000 diesel locos will be manufactured in a period of 11 years with a basic cost of Rs.14,656 crore and 800 electric locos will be manufactured in a period of 11 years at a basic cost of Rs.19904 crore. Taking into account the cost of setting up factories and maintenance facilities, these two projects together are worth Rs.40,000/- crore.

These modern powerful state of the art locos will be useful for heavy haul freight operations and mega freight operations in the dedicated freight corridor and for pan India operation. These factories would lead to substantial development of ancillary manufacturing units, generation of direct and indirect employment and substantial development in the region.

These two factories are joint ventures (JV) of the Ministry of Railways. The fair, transparent and competitive bidding process adopted in selecting the JV partner received wide-spread appreciation from all stakeholders. These projects will usher in new technologies into the Indian industry at large through high paced indigenization

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