Yadav was in Kochi to deliver a lecture on the 'Turnaround of Indian Railways' at the Cochin University of Science and Technology (Cusat). The minister also announced a grant of Rs 10 lakh for CUSAT.

Replying to a query regarding privatisation of Railways, during an interactive session, Yadav said that Public-Private Partnership (PPP) model will improve the efficiency in certain areas like container service, hotel, motel, development of world class stations and dedicated freight corridors.

"If somebody invests in dedicated freight corridors, we will return the money. Money is needed. There is no hurdle. JICA, a Japanese Development Agency, had assured money for the dedicated freight corridors at a lower interest rate. Even if they do not give, we have money," he said.

Replying to another query on whether he faced any bureaucratic problems Yadav said "I have put proper officers in the proper place. Everybody was working with commitment and I used to encourage them. I have even announced 70 days bonus. I am proud of Indian Railways and all the staff".

Pointing out that passenger safety and amenity were of utmost priority, he said all the wastelands will be used for railway development.

Asked whether FDI in railways would improve it further, he said that without infrastructure nobody will invest in India. "We need power, railway, airports and highways. These four are essential and UPA government is working on this."