Indian Zonal Railways - Productivity and Cost Analysis

Indian Railways is a major player to reckon within the transport sector in India. Though its beginning was very humble, it plays an important role in shaping the Indian economy in contemporary terms. The most important contribution of this study is the estimation of a well-specified translog cost function in which the error terms in the cost and cost share equations are internally consistent. Analysis of cost structure of Indian Railways give way to reasonable estimates of technical change, scale and substitution analysis