Lectures on Indian Railway Economics Railway Management

that the handing over of the D. U. K. to the N. W. IL and of the E. I. R. Jubbalpur-Naini line to the G. I. P. Railway and the amalgamation of the O. Sz Railway with the E. L. Railway are settled facts. [...] A Executive °Council admitted that owing to the exititeuee 4. 3'f trove contracts with the companies. , the powers cif the committee in revisinoF the Act at the time were restricted to the limitations in the contracts, and it wrig, therefore, that India did not !let the full benefit by the En71ish Railways Act at that time, although it was pripmised by the Government that endeavours would be made to [...] by the Government of India out of Midget grants„, and the loans and debentures are raised on the security of and on the responsibility of the Secretary of State for India1 Further even on the Corn. [...] For any !concession granted for the real develop- ment of Indian industries or the internal trade must mean ultimately a direct addition to the revenues of the Indian railways, and also an increase in the Government resource; in the shape of more income and super-taxes, resulting from the increase in the tax,bearing, capacity of our industries and merea. se in the general prosperity of the country. [...] tenth, As it is the Govern- ment takes the whole. " These remarks are absolutely fair and so long as the companieq and their contracts remain they must get their share but this shoiws conflict of interests between the Government and the companies and the interenksts of the GoverninelAt in such mattrrs its the interest of the people of the country as well.