Railways to earn Rs 100,000 crores profit next year : Lalu

Bela, Chhapra, Jul 29 (UNI) Railway Minister Lalu Prasad today announced to take the profits of Indian Railways to Rs 100,000 crores during the next fiscal to make it one of the most profitable government sectors of all time.

Addressing a function after inaugurating the construction work of a Rs 1417 crores 'Rail Wheel Factory', Mr Prasad said since he took over the reins of the Railways about four years ago, the sector had undergone a massive turnaround and started posting huge profits every year.

'' In fact when I was given the charge of the ministry, the railways was running into huge losses,'' he said and reiterated his commitment to posting a profit of Rs 100,000 crores by next fiscal through various means.

Referring to the future of the new factory which would produce at least one lakh wheels every year from July 2010, the Railway minister said the factory, when completed, would be the second of its kind after the one in Bangalore.

'' Once the factory becomes operational it would provide direct employment to about 1000 people, and indirectly to about 10,000 more through various related works,'' Mr Prasad said adding a premier institute like ITI would also come up here to train the local youth for the factory jobs.

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