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.

The Cabinet´s nod to the recommendations of the Seventh Pay Commission would create an impact of Rs.24,325 crore on the Indian Railways (IR) in the current financial year.

As the Railways stares at Rs.32,000-crore additional costs for implementing the Seventh Pay Commission recommendations, Railway Minister Suresh Prabhu