The Railway Ministry of India is planning to quote a rise in passenger fares in the Indian Rail Budget 2014-2015 is scheduled to be presented by Railway Minister Sadananda Gowda in the 2nd week of succeeding month.
“The rise in both pasenger fare & freight rate is unavoidable as the financial status of railways is not so fair. However, the volume of hike is yet to be finalised,” a sr Ministry official said.
When enquiring the the hike will be published in the Rail Budget, the authorities told, “One cannot rule out its possibility. But at the same time it is not necessary to announce the hike in the Budget only. It could happen before or after the Budget also.”
The UPA govt had not unaltered passenger prices in the Interim Railway Budget in Feb ahead of the gen. elections, presenting a vote-on-account leaving the hard job of balancing the country’s transporter’s weak finances to the future government.
Railways had declared the price hike on 16.05.2014 in both passenger fares and freight rates by 14.2 % and 6.5 % respectively from 20.05.2014.
Railways was focusing to take Rs 8000 crore by increasing tje passenger and freight charges previously.
PResently, Railways is hard facing financial crisis with passenger subsidy reaching twenty six thousand crores.
Lack of financial resources is main reason to railways following the old path, told the official will be on safety, security & service.