Railways' switch to accrual-based accounting to boost multilateral, green financing: ICAI

Indian Railways has fully transitioned to accrual-based accounting for the 2023-24 fiscal year. This shift, supported by the ICAI, enhances transparency, facilitates access to green financing and aligns with international accounting standards. The move also marks a significant step towards achieving ESG goals, with environmental initiatives reflected in the 2022-23 financial statements.