In the first hike in ten years, Union Railways Minister Pawan Kumar Bansal on Wednesday increased passenger fares by upto 20 percent across the board.
The new fare will be effective from January 21 midnight. Indian Railways is looking to raise Rs 6,600 crore through the fare hike.
The Rail Minister said that extra revenue earned through the fare hike will be used to maintain cleanliness and safety. He also said that the Railways is making efforts to meet safety requirements. The minister added that there will be no fresh fare hike in the Rail Budget.
As per the new fare chart, the following changes have been made in the passenger fare:
2nd class ordinary suburban- 2 paise per Km
2 class ordinary non-suburban- 3 paise per Km
2nd class mail express train- 4 paise per Km
Sleeper class- 10 paise per Km
Ac chair car- 10 paise per Km
Ac 2 tier- 15 paise hiked earlier and additional 6 paise now
Ac first class- 10 paise per Km hiked earlier, in addition 3 paise per Km now
Are you looking for NSE paid calls? Want to get premium trading alerts and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium Stock & Nifty Tips
Premium features: daily updates, full access to the Moneymunch #1 Rank List, Equity Research Reports, Focus List portfolio of 50 longer-term stocks, Premium screens, and much more. You will quickly identify which stocks to buy, which to sell and target today΄s hottest industries.
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.