** about two-third of IR's revenue goes into Wages and Pension which is not sustainable in long run. This % used to be just below 50% about 20years ago. Unless IR could bring it to below 50% it is doomed to fail as an organisation. **Private players can play a significant role in railway transportation, only after an independent regulator with adequate powers is created to give level playing field to them with respect to their prime competetor i.e. Indian Railway.