Railways earn Rs 11,000 crore profit during financial year

Eluru, Andhra Pradesh, Mar 27 (UNI) Union Minister of State for Railways R Velu today said the railways had earned a Rs 11,000 crore profit during the current financial year.

Addressing a public meeting here, he said the railways had raised its income, without any hike in freight and passenger fares in the three consecutive budgets.

Mr Velu said during 2001-02 the railways were not in a position to pay dividend to the Government and was on the look out for financial resources.

He said the growth went up from from seven per cent to 11 per cent.

The minister said Railway Minister Laloo Prasad Yadav did not impose any burden on the passsengers and Corporate sector.

He said the railways invited private participation in the transport wing.

Mr Velu added that the Prime Minister had extended his support to the railway ministry's plans to provide neecessary amenities to passsengers in rural areas.

He said the railways had decided to construct 104 road over- bridges during 2006-07, of which 20 were allotted to Andhra Pradesh.

He said the railways would allot Rs ten crore in this district.

Mr Mathur, General Manager, South Central Railway said the road-over-bridge project was taken up at an estimated cost of Rs 7.75 crore.

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