Rly capex not yielding, surgical restructuring needed: Subhash Garg

Former finance and economic affairs secretary Subhash Chandra Garg said the government needs to spend more on pollution control to curb carbon emission in the country and hold a review of the capital expenditure. Garg said during Fortune India pre-budget roundtable that the capital expenditure in the railways sector is not yielding returns and called for a surgical restructuring on the way in which the railways is run in the country. “Road should be brought back on the BoT model even if the government wants to fund 60% or 70% as viability gap funding. It is better than 100%,” said Garg adding that on the welfare front, a targeted approach needs to be taken.