Railways will leave ONGC behind in profits: Lalu

He said the railways fund would increase to Rs 200 billion next year from this year's Rs 135 billion.

Promising to continue initiatives to improve Indian Railways' financial health, Railway Minister Lalu Prasad on Monday said it would leave the country's top public sector unit Oil and Natural Gas Corporation (ONGC) behind in profits.

Interacting with the students and faculty of the Indian Institute of Management, Ahmedabad (IIM-A), Lalu Prasad said the railways had increased its income without increasing passenger fares or freight rates.

He said the railways fund would increase to Rs 200 billion next year from this year's Rs 135 billion.

"From the dismal condition in 2000-01, we have transformed the railways into a profit-making organisation. If we continue to earn like this, we would soon leave ONGC behind in profits," said the minister.

In order to provide first-grade service to business and industry, Lalu Prasad said the railways would begin dedicated freight corridors from the next month.

"The dedicated freight corridors will begin from three places in the first phase - Mumbai, Ludhiana and Sasaram (in Bihar)."

The railway ministry was planning to launch a special service for goods transportation connecting ports in the second phase - from Mumbai to Chennai and Chennai to Howrah, he said.

Lalu Prasad said the railways would utilise the land attached with nearly 7,500 railway stations across the country.

He promised to install close circuit television (CCTV) cameras and metal detectors at key railway stations and also employ sniffer dogs to ensure passengers' safety against terror threats.

"We are also considering of disallowing people other than the bonafide passengers on platforms," said Lalu Prasad.