Business Standard
Wednesday, Feb 15, 2012
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||||Economy & Policy||||| 
 Section Home | News Now | Today's Paper | Features & Analysis | Politics & Public Affairs | Q&A | Columnists | BS Says
Home > Economy & Policy Live Markets | Commodities
 

'I have the blessings of aam aadmi'
Q&A: Railway Minister Lalu Prasad
Saubhadro Chatterji / New Delhi Feb 14, 2009, 01:32 IST

Railway Minister Lalu Prasad was much in demand on Friday, so much so that his press conference spilled over into the corridors of Parliament. Saubhadro Chatterji caught up with him.

You have presented five Railway Budgets. What do you consider your best achievement so far?
The turnaround of the Indian Railways. Before the UPA came to power, the railways had failed to pay dividend to the government. In fact, they did not have enough money to even renovate their assets. But I have earned the faith of the country. Today, Indian Railways has generated surplus revenue. I also have the blessings of the ‘aam aadmi’. This is my biggest achievement.

 Click here for Cloud Computing
 
How will the economic slowdown hit the railways’ growth?
It has already hit us. We could have generated Rs 1 lakh crore of surplus revenue during these five years if the economic slowdown hadn’t happened. We will lose surplus revenue amounting to Rs 10,000 crore this year alone. During December and January, the meltdown affected our freight revenues. But the situation has improved slightly now.

Why didn’t you cut freight rates to combat recession?
Koi problem nahi (there is no problem). Dedicated freight corridors are coming up. As soon as these are completed, goods that go by road and face regular accidents will come to us. Sixty per cent of the road freight traffic will come to the railways.

You could have reduced passenger fares a little more and passed on the full benefit of the lower prices of diesel to the passengers.
During my entire tenure, I have reduced second-class fares by Rs 4 for distances less than 50 km. For distances above 50 km, there has been a reduction of 7 per cent. In AC 3-tier, fares have been reduced by 30 per cent, while in AC 2-tier, there has been a 20 per cent reduction. In this budget too, I have reduced the fares. Had it been anyone else in my position, the fares would have gone up. I too faced a lot of pressure but I did it on my whim. I feel proud of my decisions.

Today, Indian Railways has one of the cheapest fare structures in the world. This has happened despite the increasing costs. When P Chidambaram was finance minister, he imposed service tax on railway food. I told him not to do it. How would the contractors maintain the quality of food with increased costs? Many people suggested I increase the prices of food. How could I do it? I told the contractors to readjust the menu. They used to give potato chips and those biscuit-type sticks (breadsticks) with soup. I told them, ‘Yeh aaltu-faaltu sab hatao (get rid of these inessentials). Give sabzi and dal.’ I come from Bihar. I know the nutrition value of sabzi and dal. You can see that the quality has been maintained.

Will you be able to meet the deadline of the freight corridor project?
Of course. We are not lagging behind and started well within the stipulated time. We have already completed discussions with the World Bank and Asian Development Bank. After we complete the first phase, we will take up the second phase of connecting Mumbai with Chennai and Chennai with Kolkata.

Security remains a key issue.
We are giving utmost importance to it. It is impossible to check every piece of luggage manually. If the security guards ask every passenger to open his luggage, people will start fighting. Therefore, we are using sniffer dogs and installing X-ray machines in consultation with the home ministry.

Anything that you couldn’t achieve?
Sab kar diya, sab kar diya (I did everything).

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Nifty ends above 5,500
- GoAir gives aircraft engine order to P&W
- Doing business in emerging economies: panel discussion at NILF
- Stir up passion for financial inclusion: RBI to bankers
- P&G files complaint against HUL's latest Rin ad
  Read Business news in 
- Now property search gets more exciting than ever before!
- High Growth Business Opportunities in Africa - Register to explore
- We live for our family. have you secured them?
- Office 365 for professionals and small businesses.
- Earn fuel worth Rs.2400 with Citi
- India's No. 1 Property Site. Click here to know more..
- Diseases earlier, Saving Costs, Extending Lives. Know More..
- Get 5% cashback on telephone bills with Citi
- Enjoy the journey as much as the destination. click to know more..
- Exim Bank Conclave on India - Africa Project Partnership. Know more..
- Medium-sized businesses are the engines of a smarter planet.
- Be part of it The World's Largest Aircraft.
- Creating Wealth made simple the SIP way. Know more..
- Only Developer to give a guarantee on time space & rate.
- Buy Your Property with Our Triple Guarantee in India.
- Improve Patient Care & Experience. Click here to know more
- Win a Business Class Ticket to Europe..Know more..
-  Introduce a New Automotive Luxury Car.. know more
- Health is Wealth..... Insurance + Savings... Know More...
Sorry, comments to this story are closed
Latest Messages
Posted by: Vijay
Please end sending biharis with bullet trains. Apna kachra khud saf karo
SmartInvestor+ E-zine
  Pay Rs.747/- for 3 years and
  get a branded watch FREE

  Subscribe Now
Most Popular
Read
E-Mailed
Commented
   
- Pvt carriers free to fly into Air India territory
- BSE Q3 net dips 23% on market making spends
- Shyam Saran: Changing climates of governance
- Subir Roy: Creating affordable urban capacity
- Now, leasing a Merc is cheaper than buying
 
 More  
New Ipad Application
 Business Standard's all new IPad  App
 Click here to download for free
  BS Specials  
    Full coverage of elections in Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa
  Hot Searches  
 
IRFC bond |  Antrix-Devas |  Rafale fighter |  Junglee |  IPL 5 |  Dhanlaxmi Bank |  Thomas Cook |  TCS |  Sarfaesi Act |  Vodafone |  Aakash tablet |  Sodexo |  Rupee |  Samsung Galaxy Note |  Kingfisher Airlines |  Silver |  Provident Fund |  income tax refund |  Anna Hazare |  iPhone |  Reliance Industries |  SEBI |  BSNL |  BSE |  NSE |  Mukesh Ambani |  Anil Ambani |  Infosys |  Pranab Mukherjee |  Sonia Gandhi |  Rahul Gandhi |  New Pension Scheme |  Reliance |  RBI |  GDP |  Gold |  Ratan Tata |  ICICI |  B-School |  Sensex |  Tax calculator |  Home Loan |  Personal Finance |  inflation |  oil prices |  Barack Obama |   
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
FOR HOT PRODUCTS
BS Bazaar.com
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us