The government on Thursday cleared 65-day bonus for 16 lakh Railway employees for the year 2005-06, Railway Minister Lalu Prasad Yadav announced.
NEW DELHI: The government on Thursday cleared 65-day bonus for 16 lakh Railway employees for the year 2005-06, Railway Minister Lalu Prasad Yadav announced.
"Keeping in view the services rendered by the railway men, we have recommended 65 days bonus for the year 2005-06. The Union cabinet accepted it today," Prasad told reporters after the cabinet meeting.
Railway had paid 59 days bonus for the year 2004-05 which billed Rs 700 crore. This year's bonus would cost Indian Railways Rs 800 crore.
The Railway Minister said "from gangmen to Officer level, each would benefit a minimum of Rs 500", more than last year.
The minister also appreciated the services of Railway personnel for the turnaround of the national lifeline, which earned a whopping profit of Rs 13,500 crore by the end of 31 March, 2006 and hoped that the Rs 20,000 surplus target for the year 2006-07 would be achieved.
Dismissing suggestions that the groundwork for the Railways' success was laid by his predecessor Nitish Kumar, the Minister said "Kumar had done nothing. He has committed blunders. The budget speeches are there to speak."
Asked if Railways would consider lowering freight and passenger fares in the wake of slide in oil prices, the Railway Minister said "we did not raise freight rates or passenger fares".
When asked about his experience at IIM-Ahmedabad, he said, "I have just started teaching. I have received several such proposals including one from Bangalore IIM."
"Not only that, Financial Times came from London to interview me," he said.
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