Abstract
Indian Railways is a department owned and controlled by the Government of India, via the Ministry of Railways. Progress of additional railroad construction and railway-based infrastructure of the country could be assessed with the help of interrelationship between the revenue generated with corresponding investment and growth of GDP of the country. The present chapter attempts to test two hypotheses: 1) whether there is any causal link between railway investment and GDP of the country through its revenue and 2) what are the impacts of investment, revenue on the GDP of India over time. Results show that there are bilateral causalities between investment and GDP and unilateral causality from GDP to revenue but there is no way causality between revenue and investment. Additionally, investment, not revenue, influences GDP in a significant way but the revenue elasticity of investment is insignificantly changing over time.
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