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Railway Budget 2016 : Passenger Fares may be Hiked by Upto 10 percent
Posted on: 11-02-2016 , 12:40:PM | DY365 Bureau

 Feb 11, 2016 - In a bid to boost revenues , the Ministry of Railways may propose a hike of around 10 percent in passenger fare in the upcoming rail budget, scheduled to be announced on Feb 25. Facing resource crunch, Railways is said to be comtemplating on  the possibility of hiking passenger fares by 5-10 percent in the impending budget.The proposal is considered against the backdrop of a decline in both passenger and freight earnings and the additional burden of Rs 32,000 crore towards implementing the 7th pay commission recommendations, as revealed by Railway Ministry sources. The ministry is considering various other options as well to perk up the revenues collections. A hike is believed to benefit the railways during the peak season starting March.Conducted by Railways, a study by Axis Capital, recommended a 10 percent hike in passenger fares and a 5 percent hike in freught rates to boost the state run transporters finances.


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