The progress on projects such as Dedicated Freight Corridors (DFCs), high-speed rail and redevelopment of railway stations is likely to mark a paradigm shift in the country's railways sector.

Imagine railway stations in India resembling airports! No fantasy, this! It's happening and happening at great speed.

Is the Indian Railways chugging towards a gargantuan bailout? Startling as it may sound, the question is within the realms of plausibility given the lumbering behemoth's financials.

It is often pointed out that every rupee invested in ramping up the railway infrastructure benefits the economy six times over. Soon after the National Democratic Alliance (NDA) government came to power in May 2014, a committee was formed under Professor Bibek Debroy to restructure the Railway Board, the powerful body that oversees all technical and policy matters pertaining to the public-sector transporter. A majority of recommendations made by the senior economist at the New Delhi-based Centre of Policy Research was implemented. Two cross-functional directorates for non-tariff revenue and mobility, reporting directly to the Chairman of the Railway Board, were constituted. Powers were also delegated to general managers and divisional railway managers to expedite decision-making.

Sanjay Gupta is the youngest Chairman & Managing Director in the 28-year history of Konkan Railway Corporation (KRCL).

Stakeholders harp on the government's infrastructure push and expect construction orders of Rs.18 trillion in the next six years. This order inflow volume should support 12 to 15 per cent of industry-level execution of compound annual growth rate (CAGR).

The Railways has sizeable capex plans for the five year period 2015-19 involving a capital outlay of Rs.8.56 trillion. The annual capital outlay for FY2016-18 was increased significantly to meet the five-year targets. NITI Aayog has also finalised the three year action agenda (2018-20).

Policy actions to revive stalled projects, expedite approvals, introduce hybrid annuity and toll-operate-transfer (TOT) models in highways, and sustain rapid growth in renewable capacity augur well for the infrastructure financing landscape.

It is often pointed out that every rupee invested in ramping up railway infrastructure benefits the economy six times over. Therefore, after languishing for nearly 70 years, modernisation of the sector has been put on the fast track.