Piyush Goyal, the central railway minister responsible for Indian Railways (IR), was leading its efforts to establish public-private partnerships (PPPs) to modernize and expand India’s passenger rail services. IR was a government-owned transportation provider that operated one of the largest train networks in the world, but it was struggling to meet growing demand and customer expectations. Under Goyal’s leadership, IR had awarded the first PPP contract for a private premium passenger train service in 2019. In 2020 as he pursued more partnerships to operate on other routes, he faced a key question about whether private train operators would be allowed to set their own ticket prices or if the Indian government, through IR, would regulate pricing. Goyal’s decision would affect not only the perceived success of PPPs at IR but also his personal reputation and political future.
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