Railway Minister Lalu Prasad on Tuesday announced a cash surplus of more than Rs 25,000 crore (Rs 250 billion) for 2007-08, while outlining his strategy of achieving high volumes by keeping the passenger fares low and selectively imposing surcharges to generate high revenues from freight.
Presenting the Railway Budget 2008-09 in the Lok Sabha, Lalu said the total cash surplus for the last four years stood at a whopping Rs 68,778 crore (Rs 687.78 billion).
He said the sapling he had sown would grow into a mighty tree and bear fruit.
Characteristic of his style, the Railway Minister set the tone by his humorous remarks right at the beginning of the presentation of his fifth budget.
''The world today acknowledges that I have done a tremendous job bringing crores of rupees into the coffers of the Railways,'' he said, basking in his achievements.
He quoted a couplet to the effect that he had not only conjured dreams, but also translated these into reality.
As soon as the Railway Minister was asked to make his statement, the MPs from Karnataka were on their feet, protesting against his alleged remarks which were derogatory to the Kannada community.
Lalu was quick to deny the remarks and said he had already issued clarification in this regard. ''I hold people of Karnataka in high esteem,'' he quipped, bringing the curtain down on the issue that had been simmering for long.
