$17 Billion India Rail Revamp Aims to Stem Growth Slump

$17 Billion India Rail Revamp Aims to Stem Growth Slump

Kuni Takahashi/Bloomberg

Morning commuters walk on a platform at Dadar train station in Mumbai. Loss-making Indian Railways, Asia’s oldest network, has struggled to raise passenger tariffs to fund capacity addition as it faces pressure to keep costs affordable in a nation where more than 800 million people live on under $2 per day.