IFFCO Managing Director Dr U S Awasthi has welcomed the statement of Union Railway Minister Suresh Prabhu in which the latter claimed that Railways can contribute 2.5 percent to GDP sooner than later.
Speaking at the CII conference Prabhu said he has asked the railway board to identify key issues and focus areas. Railway can contribute up to 2.5 percent to the gross domestic product (GDP) growth and can also push in realising dream of double-digit growth.
Welcoming the statement Dr. U S Awasthi tweeted “ IFFCO welcomes effort of @sureshpprabhu #rail minister for eventually contribution of 2.5% to GDP by #Railways”.
Readers would recall that Mr Suresh Prabhu has been associated with cooperative in general and IFFCO in particular for a number of years now and he could be sighted in latter’s cooperative function often before he started his second inning as the Minister in the Union Cabinet. Awasthi and Prabhu are said to enjoy unique chemistry of trust and mutual admirations.
Prabhu is also known as a charismatic leader who has brought changes in whatever task he has been assigned to in the past. Modi roped him to realize his dreams of revamping railways.
A former chartered accountant known for his reformist zeal Prabhu intends to completely revamp the public-private partnership (PPP) model to make it successful. “We are working at a complete organisational restructuring. FDI/PPP investments are being promoted.”
“Funds are being raised through extra budgetary resources with aims of yanking out the Railways from its situation of chronic under-investment. The outcome of these initiatives will shortly be visible. Once this happens, the Railways will be able to contribute 2.5% to the growth of the country’s GDP growth”, Prabhu said at the CII Conference.