New Delhi: Railway Minister Lalu Prasad’s special affinity with the Indian Institute of Management, Ahmedabad, came to the fore in his annual Rail Budget on Monday.
Presenting the Railway Budget for 2007-08, the minister announced establishment of a ‘Railway Chair’ at the prestigious B-school for research in railway infrastructure and management. Credited with the turnaround of Indian Railways, Prasad had been invited to the IIM-Ahmedabad last year.
But IIM-A wasn’t the only winner. The Railways Minister has included a 50 per cent fare concession for UPSC and other official examinees.
The Railway Minister also slashed upper class fares up to six per cent and effected a token reduction by a rupee in second class ordinary fares while proposing no across-the- board freight hike.
Freight rates of diesel and petrol will come down by five per cent and there will also be reduction in rates for minerals and ores. Eight new Garib Raths and 32 pairs of new trains are being introduced in the coming year. He also announced that the Railways would be training Railway personnel of African countries.
With PTI inputs
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