Laloonomics clean bowled and Harvard University bosses frown:

Railway cash surplus inflated in last 5 years: Mamata

Railway Minister Mamata Banerjee presented a white paper document in Parliament on Friday, giving details of the finances of the Indian Railways and raising concerns over the irregularities perpetrated during the previous tenure.

The paper disclosed that the cash surplus was inflated by Rs 17,006 crore. “Account changes in five years inflated cash surplus before dividend,” it said.

It further said that 1991-96 was the best period for railway finances. Since then, the losses in passenger operations grew steadily to stand at Rs 14,000 crore in FY09. The traffic growth too, the paper said, was below par from FY05-FY09.