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2017-18 budget to propose hike in train fare
Posted on: 07/Nov/2016 3:52:53 PM
The central ministry has decided to submit the Annual Financial Statement for 2017-18 at the Parliament before 1st of February. While doing so, along with the financial statement, the Railway Budget will also be filed.
According to the new railway budget, the train ticket fare is set to get hiked. The price hike was indirect last year, but this time, the hike will be direct, said higher official from the railway ministry
The hike was introduced in premium method last time. This however had not have increased income to the railway department and hence a direct hike in price is set to be introduced. It is also stated that the freight rate will not be high this time. Between July and September last month, the freight rate was considerably reduced. It is also stated that there will be consequences with rise in freight rate.
A lot of funding is essential for different schemes by the railway ministry. Out of these, the first is to network major cities for which Rs 10,000 crore is to be spent. Due to all these reasons, price hike in train tickets is inevitable.
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