Bibek debroi committee gave recommendations for transformation of Indian Railways. The committee gave its report in 2015. The major recommendations of committee are as follows:
- Transition in the process of making financial statement and books and accounts. It has to be in accordance with the international standards.
- Streamline in the recruitment and HR process. Services should be separated in technical and non technicalservices.
- Focus should be on core areas to efficiently compete with the private sector. Eg Railway school should be merged with kendriya Vidyalaya.
- Decentralisation to the level of DRM or station superident.
- The Committee proposes that all these existing production units should be placed under a government SPV known as the Indian Railway Manufacturing Company (IRMC).
- Private entry into running both freight and passenger trains in competition with Indian railways should be allowed and private participation in various Railway infrastructure services and non-core activities like production and construction, should be encouraged by the Ministry of Railways.
- Shift regulatory responsibility from the government to an independent regulator as the private sector will only come in if there is fair and open access to infrastructure
- The report recommends setting up a Railway Regulatory Authority of India (RRAI) statutorily, with an independent budget, so that it is truly independent of the Ministry of Railways.
- A separate rail budget shall be phased out.
- For raising resources for investments, an Investment Advisory Committee may be set up, consisting of experts, investment bankers and representatives of SEBI, RBI, IDFC and other institutions.