The minister is confident that she has done something for posterity in her second

RELATED ARTICLES Many divisions against introducing new trains in Rail Budget

consecutive rail budget. Soon after presenting the document in Lok Sabha, she spoke to Ritwik Mukherjee in her Rail Bhawan office. She said she was elated by the compliment paid to her by prime minister Manmohan Singh who put his hand on her head and said, “Well done. This is the best budget you’ve presented.” Excerpts:

What according to you are the most striking features of this year’s rail budget?

The greatest challenge before the railways was to raise funds required for carrying out various development and particularly socially desirable projects. See, I could have done it much easier. Had I raised the fares by let’s say by 40 per cent I would have raised enough money. But my challenge was I did not want to put any additional burden on the common man. I went on scratching my head for the last few months, particularly the last few days. Then I found the solution. This is my new economic model, which I’m sure has so much in it for posterity. I haven’t raised the fares and nevertheless found ways of raising as much as Rs 2,000 crore just by austerity measures. And mind you, this is just by our own endeavours. If this is not a new economic or revenue model then how would you describe it?

Then comes the (public private participation) PPP model. It is for anyone to see that I haven’t disturbed the present structure in the organisation. I haven’t privatised it and nevertheless invited the private sector to join the process of development. Mind you, their participation and sharing of the cost is also in a way mobilisation of funds. The private sector will participate in new areas like railway lines, bottling plant, air-conditioned container making, wagon making and so on.

While spelling out my preference for Railways’ social responsibilities I have also kept in mind that even socially desirable projects needed to have a commercial viability. I did exactly that. Time will tell and history will judge that I had my arithmetic right. This will work wonders. Private sector will come forward because they will now be able to share the total revenue and recover their costs.

You also talked about expanding non-core areas…..

Yes, that’s another area from where I think we can generate substantial incremental revenue. I think we can raise it from the current level of Rs 130 crore to Rs 1,000 crore. We will work that out as we move ahead. Therefore, you see it is not that I only talk of new projects and don’t know how to raise funds for that.

What makes you confident that the private sector will respond?

Why not? I have not only charted out ways of protecting their investments but I have also mentioned forming of a special task force. This task force will be formed shortly and it will comprise professionals and experts from outside and people with different domain knowledge. This task force will ensure that all clearances are handed over to investors within 100 days. And that’s not all. This high powered committee will also ensure that all disputes are resolved within 100 days. Don’t you think that private sector will just lap this up and come forward to participate in various programme? I am confident that the modified wagon investment scheme, which will be unfolded shortly, will also draw a number of private sector investors to participate in various railways projects.

I think I should mention here that it would be a wrong notion to think that I have only thought of industry and private sector. My thrust has also been on agriculture. The whole idea of involving the private sector aims at carrying out socially desirable projects. I knew that our farmers were having problems as the railways did not have air-conditioned containers. I have therefore invited the private sector to participate in AC container making. From railway employees, ordinary farmers, people from arts and culture, sports to cancer patient—I have thought of everybody. And the beauty is I did not put any additional burden either on the government or on the railways.

People say you have your eyes set on Writers’ Buildings. That you have done more for West Bengal this time?

See this is not a budget for a particular state. Anyone can see for oneself, what I have given for the state. This is a budget for the whole country. I have given whatever best I could give for the whole country. Any sensible person can make out that there has been a balanced approach for the entire country.