Indian Railways News
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India’s government may curb spending growth in the budget tomorrow to pare the widest fiscal deficit in major emerging nations, seeking to boost the central bank’s scope to reduce interest rates as the economy falters.
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Dollar borrowing costs for Indian Railways are forecast to drop from a record low after the government said it would link train tariffs to fuel costs to protect the world’s third-largest rail network.
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A proposal by Indian Railways, Asia’s oldest network, to step up wagon production with at least seven new factories is raising concerns at suppliers Titagarh Wagons Ltd. and Texmaco Rail & Engineering Ltd.
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India’s rupee fell from a one-week high as investors sought the perceived safety of the dollar on concern Europe’s debt crisis will worsen.
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Indian Railways, Asia’s oldest network, plans to link passengers fares and freight rates with fuel prices for the first time as it seeks to cut more than $4.5 billion of losses stemming from below-cost tariffs.
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Vinay Kumar’s locomotive thuds into coal cars at a New Delhi power plant, coupling with a deep clunk to end a journey whose last two kilometers took over six hours, a pace slower than walking.
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Coal India Ltd., set to build a $1.4 billion railway link through its three richest mining regions, said the untapped pits will help the world’s second-biggest thermal coal importing nation end overseas purchases.
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Titagarh Wagons Ltd., a General Electric Co.-backed supplier to the Indian Railways, is seeking railroad orders in Africa to reduce dependence on its home market amid slowing sales.
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Indian Railways, losing more than $4.5 billion annually from passenger services, will raise fares this month as Asia’s oldest network seeks funds to pay for upgrading facilities.
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Indian Railways, Asia’s oldest network, plans to build four plants to produce biodiesel fuel, according to a government statement.
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