Enterprise or corporate business planning / approach reflecting in this fiscal Indian railway budget.
I feel Mr. Narendra Modi and Mr. Sadananda Gowda have Modi-fied the way the union railway budget was ever looked at. When I read railway budget this morning, I could see a lot of similarity between an enterprise or corporate planning and the approach of railway budget. I was so impressed and thought of drafting my views. First of all I would like to congratulate Mr. Gowda and his rail ministry for very fresh and innovative thinking.
There are three big points which I could draw similarities to the corporate world:
1. Optimize resources during the time of budget crisis:
Optimize the resources – Running more train on the existing lines to increase revenue by improved efficiency
Increase speed and velocity – Run trains faster to improve traffic of users, improve quality of revenue which will positively impact profitability
Value added services – Wi-Fi in trains, retailing in trains, fast food choices to improve quality of service etc.
Partnership – Public / Partnership model to infuse funds, transparency and discipline. Upgrade railway stations like malls or airport and improve freight corridors
2. Set the priority straight to ensure basic are not missed out:
Food and control inflation – Dedicated trains for supply of vegetables and milk to ensure supplies are given importance
Safety and cleanliness – 40% increase in budget provision to ensure safety get enough attention
Selective technology upgrading to help scale for future growth
3. Be ambitious and have a dream and think long-term:
Bullet train – which in a way looks foolish to consider such big plan during the time of constraints, but dreaming big is a key to any long-term success.
Survey new lines – Looking newer un-tapped areas for future growth, which is also a great initiative too.
These three points would reflects the way any mature and professional company would act and I am hoping our government becomes the largest enterprise.
This is my personal read and I not pro any particular political party. I am now waiting for finance budget tomorrow and I am hoping we will get better governance soon.