I believe that the situation is more complex than presented in the BBC's very simplistic reporting on the subject.
Politics plays a 25% part, the balance represented by the views of private enterprise who want to invest – but for a profit; the railway workers who have a job for life with reasonable pension according to Indian standards, even if the railways run or not; and the masses of users who demand that the travel costs be kept at levels which are so low that they are well and truly subsidised by the Government, in-turn the tax payer.
Each one of the above elements would need to be handled with extreme care, which is difficult. Mr.Banarjee would need to demonstrate how he could deal with all of the above issues in a manner which would satisfy all concerned. Just to say that he can put in the investment and bring in the tourism are simple comment for him and others to make.
The Indian Railways are a heritage of India, just like any railway is part of that countries heritage. Yes it is a pity that parts of it are in a poor state, but it needs major rethinking by all elements, rather than one element alone.
Ketan.