Global tender floated for diesel-fired steam locos

Even as the Railways are in the process of phasing out steam locomotives, the Ministry has floated a global tender for the purchase of diesel-fired steam locos to haul trains on hilly tracts in the southern region. Sulzer of Switzerland is the sole company which has bid for the supply of such steam locos. The Swiss company has offered to supply four locos at a whopping price of about Rs. 100 crores. At about Rs. 25 crores per locomotive, the cost works out to nearly Rs. 19 crores higher than the price at which General Motors has offered to supply diesel locomotives. Experts question the rationale behind the proposed import of steam locomotives, especially in the light of the declining investments in other rolling stock.

GDP growth put at 7.1% in 1995-96

India’s GDP grew by 7.1 per cent in 1995-96 at constant prices (1980-81), fuelled by high growth in manufacturing, trade, infrastructure and improved growth trends in public administration and defence and other personal services sector. This is against the 7.2 per cent GDP growth posted in 1994-95. Quick estimates of national income statistics released by the Central Statistical Organisation said that the country’s GDP at constant prices in 1995-96 is estimated at Rs. 2,74,209 crores as against Rs. 2,56,095 crores in 1994-95.

Latest estimates show sustained recovery

The growth in the gross domestic product for 1995-96, which had been revised downwards to 6.5 per cent by the CSO in November 1996 from the earlier projected 7 per cent, has once again been revised upwards to 7.1 per cent. It may be recalled that the Economic Survey 1995-96, presented when the Congress was in power, had anticipated the GDP to grow by 6.2 per cent last fiscal.