The Hindu : National : Lalu likely to announce sops for commuters this year too

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Lalu likely to announce sops for commuters this year too

Sandeep Joshi

People can hope for some big bonanza from the budget

— Photo: R.V. Moorthy

FIFTH TIME: Railway Minister Lalu Prasad is upbeat after giving final touches to the budget in New Delhi on Monday.

NEW DELHI: Creating a record of sorts, Railway Minister Lalu Prasad will present his fifth Railway budget in the Lok Sabha on Tuesday. Known for giving “pleasant surprises” to the people through his “people-friendly” budgets, Mr. Prasad is likely to announce sops for commuters this year too.

People can hope for some big bonanza from the Budget as it will be the last chance for the Minister to impress upon the electorate before the general elections scheduled for next year. Apart from reduction in fares in some categories and rationalisation of freight charges, Mr. Prasad might offer some concessions to old and sick people, besides taking care of the needs of the poorer and deprived sections of society.

Scaling new heights

Year after year, the Railways has been scaling new heights under Mr. Prasad’s tenure, earning record revenues and profits. Between April 1 and January 31 in the current fiscal, the Railways saw its earnings reach Rs.57,282 crore compared to Rs.50,765 crore during the same period last year, registering an increase of 12.84 per cent.

The total revenue is expected to cross a record level of Rs.70,000 crore this fiscal, while profit is also likely to touch a new high. Last year, the Railways’ profits stood at Rs. 20,000 crore.

Sitting pretty on good profit level and ensuring an impressive 20 per cent return on capital invested, Mr. Prasad can afford to announce some cuts in fares and freight charges, giving relief to commuters as well as to the industry. In his trademark style, the Minister would also announce introduction of new trains and extend frequencies of some popular ones, trying to accommodate as many requests as possible from across the country.

Private players’ help

Talking a cue from other sectors, Mr. Prasad is also likely to take the support of big private players to meet the growing infrastructure requirements of one of the world’s largest railway network through the public-private partnership route. In an era of liberalisation, Mr. Prasad would try to meet the huge investment requirements from private players, but without compromising on the State’s hold over the Railways.

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