Indian Railways targets record profit in 2008-09

Kolar, Karnataka, Jun 9 (UNI) The Indian Railways has targetted to earn a record profit of Rs 25,000 crore in 2008-09 by streamlining its operations and resources, Minister of State for Railways R Velu said today.

Inaugurating the modernised Bangarpet Railway Junction at a cost of Rs 1.25 crore here, he thanked for better management of its resources and operations for which, Railways would be able to earn the profit.

Mr Velu said despite steep increase in the input costs, the Railways had decided not to go in for a hike in freight and passenger fares, but instead focus on revitalising its sources to ward off overhead expenses.

The Minister further said the Railways had earmarked Rs 80 crore for various ongoing railway projects in Karnataka. The allocation for the Kolar-Chickballapur gauge conversion had been increased to Rs 190 crore. There was also a proposal to conduct survey for a new line between Marikuppam and Bisanatham.

''The State Government should come forward to cooperate for the new proposal,'' he added.

Referring to the inconvenience in the timing of push-pull rail service from Kolar to Bangalore, Mr Velu said the authorities concerned have been instructed to change its departure time to 0720 hrs.

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