Despite tremendous growth Indian Railways is at a critical juncture primarily due to financial condition. Being in infrastructure the IR needs financial support to expand further and provide new facilities to capture emerging traffic. In this study an attempt has been made to understand the problem and suggest some workable solutions. The book has ten chapters. In the first chapter, the financial condition of Indian Railway has been examined in view of its so called turn around followed by acute financial crunch. Second & third chapters examine the issue of freight & passenger traffic in view of the Indian Railway’s two famous document- Vision 2020 and White Paper. Fourth chapter discusses sustainability of turnaround In the fifth chapter, a new regulatory control system has been proposed. In the sixth chapter, various issues related with the Dedicated Freight Corridor have been analyzed.Seventh chapter indicates that Railway should act in close co-ordination with Shipping Industry and Ports to make the transportation closely coordinated affair. Computerization, international comparison with USA & corruption in transportation are other topics covered in this book.