Click to play videoNew Delhi: Lalu Prasad Yadav is seen as the architect of the turnaround in the Indian Railways. Will a rate cut in fares impact its financial recovery? CNN-IBN caught up with OSD to Railway Minister, Sudhir Kumar, the man who many say is the brains behind the Budget, on why the fares have been slashed.
CNN-IBN: You have given a 5 per cent discount on sleeper classes. Now this is a sector that is losing. Why give a discount on a losing sector?
Sudhir Kumar: You see this story of turnaround has been written by making railways profitable and by making the head of railways popular among the masses. So this is a story of blending commercial opportunity with the social commitments of a public utility. That is what is driving this turnaround. So if we are earning $ 6.5 billion—better than the best of fortune 500 companies—so we must share some of it with the common man of India.
CNN-IBN: Even if your operating ratio is going to deteriorate from 76.3 per cent this year, according to revised estimates, to 81.4 % next year?
Sudhir Kumar: This is a very superficial conclusion. Two years ago, we promised deterioration by half a percent — from 83 to 84. Last year, we promised 79 instead of 78. But in fact, we delivered 76 this year. You wait for the whole year and see our performance.
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