Railways’ success different from that of private sector: Lalu

February 13th, 2009 - 4:14 pm ICT by IANS  

New Delhi, Feb 13 (IANS) The financial transformation of the Indian Railways - which registered a huge turnover this fiscal - is different from the private sector that resorts to “anti-people measures”, Railway Minister Lalu Prasad Yadav claimed while presenting the interim railway budget in the Lok Sabha Friday.
“The transformation of the railways is fundamentally different from the financial turnaround witnessed in private sector companies,” Lalu said in his budget speech here.

“While private companies resort to anti-people measures like increase in prices, retrenchment of employees and lockouts, railways have kept the human aspect as the central focus and achieved an extraordinary feat without putting any extra burden on the common man or employees,” he added.

According to the minister, the average annual growth rate of freight loading increased from around three percent in the last decade to about eight percent currently.

The declining trend in transportation of steel and cement has also been arrested, Lalu said.

“This transformation has been possible through the significant improvement in productivity of railway assets and efficient working by railway employees,” he claimed.

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |