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原文传递 INVESTMENTS IN BUS SYSTEM SHOULD BE BASED ON ECONOMIC ANALYSIS (EIRR*) AND NOT ON FINANCIAL ANALYSIS (FIRR**)

题名：	INVESTMENTS IN BUS SYSTEM SHOULD BE BASED ON ECONOMIC ANALYSIS (EIRR) AND NOT ON FINANCIAL ANALYSIS (FIRR*)
正文语种：	英文
作者：	CH. HANUMANTHA RAO; A. PURUSHOTHAM
作者单位：	former Senior Faculty Member, Central Institute of Road Transport, Pune; Executive Director, Telangana SRTC, Hyderabad
关键词：	invest；transport；government；analysis；population；economic；roads；development；count；enterprise
摘要：	It is a well acknowledged fact that mobility plays an important role in economic and social development of any country. In India, bus based Public Transport System continues to be dominated by State Road Transport Undertakings (SRTUs) in terms of coverage. Presently, SRTUs carry more than 7 crore passengers each day on their fleet of over 1,40,000 buses. It is a common experience, that "Transport" has become a problem of life in the modern era. Day by day congestion is increasing and the situation is getting worse with increasing population, urbanisation, private vehicle growth and inadequate infrastructure. The Bus Systems (SRTUs) are incurring financial losses year aider year and hence there is no adequate growth in the fleet of Public Transport. The present policy of the Government appears to be not to invest in loss making enterprises like SRTUs. On comparing India with other developing countries, about availability of buses, reveals that India offers an average of 1.66 buses per thousand population, whereas other countries like Brazil, Mexico, Malaysia and other developing countries offer 3-4 buses per thousand people. The comparison of Road Network of India with different countries reveals that India has about 158 Kms. of roads per 100 Sq. Km area while other countries like Brazil, Mexico, Thailand, Malaysia, China, South Africa etc. have less than 50 Kms. of roads per 100 Sq. Km. area. Thus, among the major developing nations, India has one of the lowest availability of buses per thousand people whereas it has the highest road network per hundred Sq. Km area. A research study by Shakti Sustainable Energy Foundation on "Developing a Business Case Integrated Transport Sector Budgeting in States" (April 2018) computed the "EIRR" of selected three SRTUs - APSRTC, MSRTC and Haryana Roadways and estimated it to be 24.5% and it is quite high compared to Roads, for the respective states (The "EIRR" for Roads is 21.7% only). The "EIRR" for investment in buses is higher than that of Roads because the economic benefits such as reduction in road fatalities, employment generation and savings on account of reduction in emissions are higher for investment in buses as compared to the investment in Roads. The same research study observed that the growth of road network is due to the investments made by the Government in Road Sector. The "FIRR" on Roads, is said to be about 8%, while in the Public Transport (Bus System) the "FIRR" is "Negative" hence very limited investments are made by the Government in the Public Transport. There is urgent need for higher investments in Bus systems, though they have negative "FIRR". Considering the external benefits of Bus System, the conventional Financial Analysis should not be the only criteria for investment, but the analysis should be from the view point of the society (or economy) as a whole i.e., "EIRR" should be the major criteria for investment in Bus Systems.
出版年：	2018
期刊名称：	Indian Journal of Transport Management. (Text in English)
卷：	42
期：	2
页码：	69-80