Govt blames mounting losses for train fare hike

January 09, 2013 16:16

Justifying the hike, Bansal said passenger segment losses are likely to touch Rs 25,000 crore in the current fiscal.

"Input costs have increased immensely while rail fares have remained stagnant. In fact there was a decrease in lower class fares. Given economic slowdown, we have not been able to so far achieve this year's targets in either freight or fare side," he added.

He said that the slowdown has further impacted railways' earnings.

He further said hat extra revenue earned through the fare hike will be used to maintain cleanliness and safety.

« Back to LIVE

TOP STORIES

Chess whiz Gukesh reveals his inspiration: Find out who

D Gukesh admires the way charismatic former India skipper MS Dhoni and iconic tennis player Novak Djokovic

Rahul, Hema in fray as 88 seats go to polls in Phase 2

Voting for the second phase of Lok Sabha polls will be held on Friday for 88 seats in 13 states with Congress leader Rahul Gandhi seeking a second-straight term from Wayanad in Kerala.

India calls US report on human rights 'deeply biased'

India on Friday described a United States State Department report citing alleged incidents of human rights violations including in Manipur as 'deeply biased' and said it reflects a poor understanding of India and it attach no value to it.

Investors' wealth up by Rs 11 lk cr in 5 days

The market capitalisation of BSE-listed companies jumped to a lifetime peak of Rs 404.18 lakh crore on Thursday helped by a five-day rally in benchmark indices, making investors richer by Rs 11.29 lakh crore. Recovering after a sell-off...

Shikhar Dhawan's comeback on the cards

PBKS spin bowling coach Sunil Joshi said Dhawan is on a recovery course and the left-hander could possibly make a return in their next game in Chennai.