Tuesday, April 25, 2023
Friday, April 14, 2023
Annual Report
Annual Report
Source: Chapter 5 of Finance Code
Each Zonal Railway / Production Unit should submit the Annual Report to the Railway Board.
Object & Scope: Reviewing the year’s working under all Departments and referring to any matters either materially affecting the results of working or of general interest.
Responsibility for preparation & Submission: The Administrative Head of the Zonal Railway (i.e., GM). PFA compiles the Financial Statements and furnishes such other information and figures as may be required for the purpose of the Annual Report.
The annual Report consists of 4 Sections.
Section I - Report Proper
Also called as Narrative portion.
Signed by the Administrative Head of the Railway (GM). It includes:
Review of the Working of Zonal Railway
Reasons for variations in respect of Gross Receipts and Departmental Expenditure. (comparisons with the Previous Year)
Brief description of exceptional events, such as floods, cyclones, etc., and measures taken up to cope therewith.
The important fluctuations in operating results (say OR - Operating Ratio) together with the contributory causes
Major works undertaken and completed during the year.
Steps were taken to improve Passenger amenities, particularly Lower Class
Section II - Financial Statements (Capital & Revenue Accounts)
Comprises a set of statements of accounts of Capital & Revenue transactions of a Zonal Railway.
Prepared in accordance with the instructions in Chapter 7 of the Accounts Code.
Section III - Analysis of Working
Includes Statistical Statements of different aspects of Railway Working, which are chiefly used for the compilation of the Statistics published in Indian Railways Annual Statements by the Railway Board.
Also includes detailed statements of Rolling Stock, Statements of Revenue and Expenditure, and Operating Statistics.
Section IV: Appendices
Includes Statements of Number and cost of Staff, Accidents, etc
—-end—-
Railway Awards - Reforms
Railway Awards - Reforms
The entire Award ecosystem (complex process) has been revised.
Introduced from 2023 onwards
Withdrawn Cash component (except in posthumous cases, which would be Rs.50,000 /- per case at National Level only)
E-self nomination through HRMS (Human Resources Management System)
Details of the Award screening committee will be made available in the Public domain.
Yes to the System of Rollover Shields to Zonal Railways for excellence in a particular field.
Yes to the System of Department-wise Rollover Shields in Zonal Railways for excellence in a particular field.
No Awards at the level of Head of Department (PCE, PFA, PCCM etc)
No Group Awards
Normally, Group C staff and erstwhile Group D staff may be nominated for Awards. In exceptional cases, Officers up to SG (Selection Grade) i.e., JTS, STS, JAG & SG may be nominated for Awards. However, SG officers in Non-Functional SAG (NFSAG) are also eligible provided they remain in SG till 16th April.
Nominations - only in favour of Officers/staff working in the Field, unless an exception in a real sense could be made in respect of Officers/staff working in Offices.
Wednesday, April 12, 2023
SGF - Sovereign Green Fund - a New Sourcce of Finance under erstwhile Demand Number 16 ( Capital Expenditure)
SGF - Sovereign Green Fund
SGF stands for Sovereign Green Fund
SGB stands for Sovereign Green Bonds
New Source of Finance - Introduced in FY 2023-24
SGF comes under Major Head 8235 (General & Other Reserve Funds). Nirbhaya Fund also comes under MH 8235.
Plan Heads to be financed by SGF - PH 2100 - Rolling Stock and PH 8100 - MTP - Metropolitan Transport Projects.
The first two numerals of SGF in the Classification of Capital Expenditure are 35 (maybe 35 taken from the Major Head 8235)
The source of SGF is SGB - Sovereign Green Bonds
SGB - Sovereign Green Bonds:
Launched recently in India in the year 2022
To raise money for Green Infrastructure.
To meet India’s goal - Net-Zero Carbon emissions by 2070
Definition of Green Bond (by World Bank): A Debt security that is issued to raise money for initiatives that are relevant to the environment or the climate.
The First ever Green Bond - issued by the World Bank in 2008
Sectors - Green Buildings, Sustainable Transportation (Metro Rail), Renewable Energy, etc.
NDC stands for Nationally Determined Contribution (A nationally determined contribution is a non-binding national plan highlighting climate change mitigation, including climate-related targets for greenhouse gas emission reductions)
GFWC - Green Finance Working Committee - to look after the issuing of SGB
Investors (of SGB) may offer Tax incentives or Tax exemptions.
Key points for MCQ
SGF stands for Sovereign Green Fund
SGB stands for Sovereign Green Bonds
SGF used for Plan Heads - 2100 (Rolling Stock) and 8100 (MTP - Metropolitan Transport Projects)
Major Head for SGF - 8235 - General & Other Reserve Funds
The first two numerals of SGF in Capital Classification are 35
The Source of SGF is SGB
Net Zero Carbon Emission - India’s Goal to Achieve by 2070
The First-ever issue of Green Bond - 2008 by World Bank
NCD stands for Nationally Determined Contribution
GFWC stands for Green Finance Working Committee
EBR stands for Extra Budgetary Sources
The First two numerals of different sources of Finance in Capital Classification are
Notes
:
It is high time to streamline or restructure all the above Sources of Finance. Because Many Funds are not funded sufficiently by the Government because of poor internal surplus owing to the non-rising of fares in Indian Railways. (in last 12 years)
The objectives of the above Funds are overlapping one other.
It is learned, that the Indian Railways already formed a committee to look into the above issue.
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