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Written by R Jagannathan
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Sunday, 22 February 2009 04:38 |
One of the major miracles of the UPA regime has been the dramatic turnaround in the fortunes of the railways. Lalu Prasad, the man widely credited for this transformation, boasted last week that he had delivered a surplus of Rs90,000 crore over five years in an enterprise that was heading towards bankruptcy.
How did Lalu, the plunderer of Bihar, become Lalu, the reformer, on whom case studies are being written by international B-schools? A new book, Bankruptcy to Billions, written by Sudhir Kumar, the man who helped Lalu put the railways back on track, says it was done by ignoring textbook remedies. "We decided on a strategy in which there was no downsizing, but rightsizing, no disinvestment but investment," he told Sunday DNA.
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