Management students from US to meet Lalu tomorrow

New Delhi, Mar 15 (UNI) Over 50 management students from top grade business schools of the US are to meet Railway Minister Lalu Prasad here tomorrow to hear from him the mantra behind the exciting turnaround of Indian Railways, being touted as a great success saga in recent times and a case study for future managers.

Wearing the cap of 'management guru', Mr Prasad will be lecturing the students on the Indian Railways' economic rejuvenation, the growth-oriented reforms with a human face leading to turnaround of India's largest public enterprise.

The visiting group includes 35 students from the McCombs School of Business, University of Texas at Austin and 22 students from the Darden School of Business, University of Virginia.

Earlier in December last year, students from Harvard Business School and Wharton Business School had come to India to interact with the charismatic minister and have a first hand experience of the phenomenon that has fired the imagination of management experts and financial institutions the world over.

In addition, a number of invitation are also pouring in from different foreign institutes and universities requesting the Railway Minister to visit their campuses to address seminars and lectures on the Indian Railways' turnaround story.

Mr Prasad has also been invited by University of Chicago, Stanford University and Harvard Business School.

''The worldwide interest in the performance of the gigantic Indian Railways has been mainly due to its spectacular performance during the last three years,'' Mr Prasad had said, while presenting Railway Budget, 2007-08 in Parliament.

''Without imposing undue burden on the common man, the Railways are poised to create history by generating a cash surplus before dividend of Rs 20,000 crore as against Rs 14,700 crore in the previous year. This is the same Railway that defaulted on payment of dividend and whose fund balances dipped to Rs 359 crore in 2001,'' he said, while . praising 14 lakh railway employees for showing an indomitable spirit, matchless zeal, vigour and teamwork in the face of stiff competition.

The minister said by rendering an unprecedented surplus in spite of the reduction in passenger fares, the Railways had shattered the myth that it was sinking into a financial crisis due to social obligations.

''Our turnaround strategy based on a perfect blend of commercial wisdom and empathy for the people has made the Railways a centre of attraction for the world. The spectacular achievements of the Indian Railways is not only in commercial terms but it has a human face too,'' he said, adding that the success came without any downsizing of its 14 lakh work-force and without increasing user's charges and without compromising on public utility character.

UNI