Latest news with #GeorgeStephenson
Hindustan Times
5 days ago
- Business
- Hindustan Times
Financial turnaround of Indian Railways
he first public railway line utilising steam locomotives for passenger transport was established in England. George Stephenson's rail system, the Stockton and Darlington Railway, opened on September 27, 1825, in England. Rail technology was quickly adopted in India, with its first journey commencing in 1853 and covering 34 km. Indian Railways has since leaped forward in its operations with enhanced safety systems, high-capacity loco systems (12,000 HP), passenger-friendly coaches, and various types of wagons, most of which are indigenously developed. Railways currently employ 1.3 million people. At Independence, Railways had 57,000 route km (RKM) of track, with less than 1% electrified and 50% broad gauge and, while the rest were meter and narrow gauge. Currently, Railways possess 69,000 RKM, with 90% of its routes electrified. At the time of Independence, India did not manufacture locomotives domestically at a commercial scale. All locomotives in use were imported, primarily from Britain, Germany, and the US. India soon began locomotive manufacturing in 1950 itself. Now, railways operate, India's first semi-high-speed, fully indigenous electric train the Vande Bharat Express, designed and manufactured under the Make in India initiative. Many freight terminals have been developed as Gati Shakti Terminals. Railways have also made significant digital advancements, such as online passenger and freight systems, with various operational activities, especially real-time train tracking, being digitalised. Railways have world-class PSUs, manufacturing units, including RVNL, IRCON, IRCTC, ICF, and RITES. We now have world-class railway stations developed through PPP, for example, at Rani Kamalapati Railway Station in Madhya Pradesh and Gandhinagar, with amenities comparable to modern airports. Additionally, 1,300 stations are in the pipeline for redevelopment under the Amrit Bharat Schemes, with mixed public-private funding. The revenue expenditure in Railways during the financial year 2023-24 was ₹2,52,833 crore against revenue receipt of 2,56,093 crore. The revenue surplus was ₹3,260 crore. The capital expenditure from the budget in 2023-24 was ₹2,62,216 crore. The accompanying graphs depict net revenue, working expenses, and operating ratio (the percentage of revenue spent on operating expenses). Railway is currently not able to invest from its earning for network expansion, station developments, reliant on budget grant from central government. Source: Source: Graph Indian Railways' earnings are not in harmony with the capital deployed by the government. The incremental capital output rato is 20 is the ratio of change in capital to change in revenue, which signifies poor financial return for railways that means if we invest 20 rupees we are only getting output Rs. 1. Railways should aim to achieve a better incremental capital output, needs to earn a minimum of ₹7,000 crore per year (by rationalising pricing of freight, passenger, maximising non-fare revenue and reducing expenses) to bring down the ratio from 20 to four in line with the economy. Railways should able to function as business entity. Success examples from certain countries like China, France, and the US reveal that separation of operations & fixed assets, expanding marketing, improving governance, citizen-centric approach as well as autonomy in decision making, will lead to better profits. Some global examples are stated below: BNSF Railway Company (Burlington Northern Santa Fe) is one of the largest freight railroad networks in North America, headquartered in Texas. It was created in 1995 through the merger of Burlington Northern and the Atchison, Topeka and Santa Fe Railway. In 2010, BNSF became a wholly owned subsidiary of Warren Buffett's Berkshire Hathaway implemented a series of reforms that significantly enhanced its operational efficiency, service quality, and profitability . BNSF prioritised network rationalisation , removing redundant routes and focusing on high-demand corridors. Net income increased from $ 1.7 billion to $ 6 billion within five years. BNSF prioritised network rationalisation removing redundant routes and focusing on high-demand corridors. Net income increased from $ 1.7 billion to $ 6 billion within five years. The Chinese government began separating government functions from enterprise management, leading to the establishment of China Railway Corporation in 2013 (later restructured as China State Railway Group in 2019). This allowed railways to operate more like commercial entities with a focus on profitability and efficiency. A major reform thrust was the massive expansion of high-speed rail (HSR), starting in the mid-2000s, which turned China into the global leader in HSR technology and network size (HSR 45,000 RKM. Addition, government introduced market-oriented mechanisms, allowing private and local capital into railway construction and services. Railway investment was re-structured to rely more on bond financing and public-private partnerships (PPPs) rather than only State funding. In addition, incentives to performing railway zones caused increased outputs. Telescoping pricing of Railways from July 1 states that no increase up to 500 km in ordinary class; increase of ₹5 for distance 501 to 1500 km and ₹10 for distances up to 2,500 km and ₹15 for distance slab 2,501 to 3,000 km. This hike may add additional revenue less than 2 %. There is scope to increase fare much higher percentage due to healthier economy and poverty reduction. Railways should be able to compete with air transport, especially by introducing high speed trains quickly which would reduce congestion at airports and also attract throughputs to railways in turn additional revenues. Railways should also generate additional income from their manufacturing units, non-fare revenues, unbundling non-core activities, real estate development, and network expansion, implementation of Rail Development Authority will certainly attract private players. The establishment of an integrated transport department to help prioritise projects and distribution of throughput effectivity, establishing a unified transport regulator, will help the transport sector grow faster and healthier and may attract private parties in operation, investment and maintenance. Ballooning capital expenditure to Railways from the budget is a matter of concern. The above cited reforms may help Railways to generate additional revenues and shall become self-reliant. Source: Ministry of Railways This article is authored by M Vijayakumar, joint adviser, NITI Aayog, New Delhi.
Daily Mirror
7 days ago
- Daily Mirror
Cut price train tickets across UK set to mark 200 years since the rail revolution
The Mirror joined a beautiful replica of Locomotion No.1 - which made the historic first ever steam trip was on Sept 27, 1825 - with exciting plans to celebrate the birth of the railway. Steam filled the air as the Mirror relived the first locomotive-powered passenger rail journey in history. A joyous ring of a bell marked the start of a one-hour trip through the rolling countryside of Co Durham, and a step back in time. We had been invited to witness the meticulous preparations for Sept 27 this year, and the 200th anniversary of the first ever passenger railway journey using steam locomotives. Back then, 450 people were carried along the Stockton and Darlington Railway at a speed of 15 mph. The beautiful working replica of Locomotion No.1 was waiting to take us on our trip of a lifetime. Built by the rail pioneer George Stephenson of Newcastle, the original Locomotion powered that historic service back in 1825. Soon, the stunning replica will travel along parts of the original route, made possible through a partnership with Network Rail. The journey this September will be cheered on by spectators as part of a public programme of events. Cut price rail travel is planned right across the UK, to get as many people as possible using the railway to mark the historic milestone. We boarded in Stanhope, Co Durham, sitting in the tiny wooden carriage 'Experiment'. It carries the latin motto 'Periculum Privatum Utilitas Publica', 'Private Risk for Public Good', a tribute to those early investors in the future of rail travel. There are two benches for seating, with a team of a dozen steam enthusiasts and volunteers making last minute checks on both the track and engine. We reached 10 mph on a scenic journey to Bishop Auckland; at that speed, you could see hares running through fields, ducks paddling around babbling brooks and birdlife flying above the engine as it chugged its way through green pastures. When those first ever passengers boarded the original trip 200 years ago, excited spectators lined the route. Journalists had travelled from around the country to witness the moment. Few could have predicted how it would transform modern life as we know it. The ability to travel easily and cheaply led to the growth of our seaside resorts and tourism; commuting became an option for the first time, as residents of towns and cities were able to live further from workplaces; business prospered in the Industrial Revolution. It standardised time, because of the need for rail timetables; previous 'local times' in different locations across the country ended. People in towns and cities could travel easily and cheaply to see friends and families in rural locations for the first time. It was also key to fast, overnight postal services, newspaper and milk deliveries, even good old fashioned fish and chips. Fresh daily catches were taken from our coastal fishing fleet inland for the first time. Reduced journey times meant the fish was still fresh. The success of the Stockton and Darlington Railway demonstrated the viability of steam-powered railways as a mode of public transport, paving the way for the growth of our railway network Steve Davies, 66, former colonel with The Queen's Lancashire Regiment, has masterminded the Locomotion No 1 project for SDR200. "The lack of an enclosed cab on the engine means you feel very close to the noise and action as we start the train," he said. "This project gives me a newfound admiration for the engineers and crews of 200 years ago. The original engine was made in Newcastle so they had to drag it with a wagon pulled by horses on a muddy road. "This one will look amazing when it goes over Skerne Bridge and the iconic viaduct to mark the 200th anniversary. "That is the oldest, longest serving railway bridge still in operation anywhere in the world." The pristine engine, his pride and joy, will be ready for a programme of events to mark the historic birth of the steam-powered rail travel two centuries ago. The Locomotion will be seen on a 26-mile route between Shildon and Stockton via Darlington. Free tickets will be required at designated viewing locations in Shildon on Friday Sept 26, and Hopetown Darlington on Saturday Sept 27 this year. SDR200 festival director Niccy Hallifax (c), said those first passenger trains had "democratised a whole host of different activities". She added: "Now we are looking to the future, the climate crisis challenge and the exceptional role that railways have to play in hitting our net zero goal. This festival is a real showpiece. "We will showcase opportunities in this region to enable young people to look for jobs in different industries." There will also be a series of events to mark the anniversary. Ghost Train is a two-part outdoor performance; another outdoor show called Steam celebrates the ingenuity of George Stephenson and Edward Pease, pioneers of the S&DR and there will be a line-up of 'Next Generation Locos' to recognise the future of rail. *
The Sun
01-07-2025
- The Sun
Two teenagers, 17 and 18, killed in horror crash were ‘best friends' as families pay heartbreaking tribute
THE families of two teens who were tragically killed in a horror car crash have paid tribute to the boys. Harrison Carter, 18, and his best friend George Stephenson, 17, died in the collision on June 20. 2 2 The boys were passengers in the same car in Marston, Lincolnshire. An 18-year-old woman, driving a black Kia Niro, and an 18-year-old man, driving a blue Ford Fiesta, were both been arrested on suspicion of causing death by dangerous driving. The woman was released under investigation and the man has been bailed. Harrison's family said: 'We would like to thank everyone, particularly our friends, family, The Kings School and Lincolnshire Police for the compassion and support shown to us following the terrible accident, that took our beloved son Harrison and his best friend George in the early hours of Friday, June 20th. 'Harrison touched so many lives and was a bright, talented and beautiful person both inside and out. 'As you can imagine, we are utterly heartbroken. 'Due to the nature of the accident, many families have been affected and our thoughts are with all those involved.' George's family also said in a tribute: 'We, as a family, would like to thank everyone for their support at this incredibly difficult time. 'Losing George in such a tragic accident, has devastated us all, and our lives will never be the same again. He brought so much love and joy to so many people and was a truly kind and caring boy. 'Whilst we deal with our loss, and the police continue their investigation, we urge people not to speculate on the cause of this accident. 'Many lives have been shattered and nothing will bring our beautiful boy home.'
BBC News
30-06-2025
- BBC News
Families pay tribute to Marston crash victims, 17 and 18
The families of two teenage friends who died in a crash in Lincolnshire say they are "utterly heartbroken".Harrison Carter, 18, and George Stephenson, 17, died following a collision involving a Ford Fiesta and a Kia Niro on Toll Bar Road, near Marston, Grantham, on 20 June. Both were passengers, police drivers of the vehicles – a man and a woman, both aged 18 – were arrested on suspicion of causing death by dangerous driving. The woman was released under investigation and the man had been bailed, police said. In a statement issued by Lincolnshire Police, Harrison's family thanked friends, family, The Kings School and Lincolnshire Police "for the compassion and support shown to us following the terrible accident"."Harrison touched so many lives and was a bright, talented and beautiful person, both inside and out," the family said."As you can imagine, we are utterly heartbroken."George's family thanked "everyone for their support at this incredibly difficult time"."Losing George in such a tragic accident has devastated us all, and our lives will never be the same again. He brought so much love and joy to so many people and was a truly kind and caring boy."Whilst we deal with our loss, and the police continue their investigation, we urge people not to speculate on the cause of this accident."Many lives have been shattered and nothing will bring our beautiful boy home." Listen to highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
ITV News
30-06-2025
- ITV News
Families of teenage best friends killed in Marston crash 'heartbroken'
The families of two teenage best friends who died in a crash say they are "heartbroken" and "devastated". Harrison Carter, 18, and 17-year-old George Stephenson were passengers in one of two cars which crashed on Toll Bar Road at Marston, near Grantham, Lincolnshire, in the early hours of 20 June. A man and a woman, both aged 18, were arrested on suspicion of causing death by dangerous driving and released on bail. In a statement Harrison's family thanked The Kings School and Lincolnshire Police for their "compassion and support" following his death and that of his "best friend". They said: "Harrison touched so many lives and was a bright, talented and beautiful person both inside and out. As you can imagine, we are utterly heartbroken... many families have been affected and our thoughts are with all those involved." The family of George Stephenson added: "Losing George in such a tragic accident has devastated us all and our lives will never be the same again. "He brought so much love and joy to so many people and was a truly kind and caring boy."They urged people not to speculate about the incident. 'Many lives have been shattered and nothing will bring our beautiful boy home,' the statement added. Police say investigations into the crash, which involved a black Kia Niro and a blue Ford Fiesta, are continuing.
