Train Travel to be Costlier From June 25
Travel by train will be costlier from Wednesday as the recently announced hike of 14.2 per cent in passenger fares will come into effect.
Besides the steep increase in passenger fares, freight rate for all commodities will also go up by about 6.5 per cent from June 25.
Cash-strapped Railways, which announced the hike on June 20, three weeks before the presentation of the Rail Budget, expects to mop up Rs 8,000 crore from the move.
The hike in the basic fares will apply even to the tickets issued in advance for journeys to commence on or after June 25.
According to a senior railway official, those who have purchased tickets earlier at pre-revised rates will have to pay the differences either at booking offices or in trains.
"In the case of tickets already issued at pre-revised rates, the difference in fares and other charges on or after June 25 will be recovered either by TTEs (travelling ticket examiners) on the trains or by the booking or reservation offices before the commencement of journey by passengers," the official said.
There shall be no change in other charges like reservation fee and superfast surcharge, the official said, adding that such charges, wherever applicable, shall continue to be levied additionally according to existing instructions.
The train fare hike from June 25 will also affect monthly season ticket (MST) holders.
Second-class monthly season ticket fares of suburban and non-suburban trains will be on the basis of 30 single journeys instead of approximately 15 single journeys at present.
Fares of first class monthly season tickets will be charged four times the second class monthly season ticket fares as is done currently.
The hike in monthly tickets in local trains is facing strong opposition even from within the ruling NDA. In this context, a delegation of 10 Maharashtra MPs belonging to BJP and Shiv Sena met Railway Minister Sadananda Gowda demanding a rollback of hiked fares.
Railways incurs a loss of about Rs 26,000 crore in passenger service annually even though more than 2 crore people travel daily on about 11,000 trains in the country.
Much of the loss is covered by the revenue generated by the freight segment.
In the interim railway budget presented on February 12, the then railways minister Mallikarjun Kharge had set a revenue target of Rs 1.65 lakh crore.
This includes Rs 1.06 lakh crore from goods and Rs 45,255 crore from passenger. The balance is from other sources such as coaching.
The interim budget, presented just before the last Lok Sabha polls, had not increased the fares and freight rates.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.