| | |
The commute of Mumbai citizens is expected to get a little better in the current financial year with the announcement of additional services and safety measures in the Rail Budget.
The commute of Mumbai citizens is expected to get a little better in the current financial year with the announcement of additional services and safety measures in the Rail Budget. Rail Minister PK Bansal today announced 72 additional services for Mumbai’s suburban network.
He also announced introduction of long pending AC and Electronic Multiple Unit (EMU) rakes on the suburban train network of the city. This will allow Mumbai commuters to travel in air-conditioned coaches in 2013-14 itself.
Mumbai suburban railway network carries millions of passengers and is often considered as the lifeline of the commercial capital of the nation. However Mumbai commuters often complain about need for launching new services considering the ever increasing passengers in trains during office hours.
Though Railway Budget might please Mumbai commuters, it has let down the market and industry. Rail Minister preferred to play it safe, before the general elections, due next year. The ministers kept passenger fares unchanged despite railway facing huge losses. Although, Railways had increased passenger fares in January following a hike in diesel prices, it’s not likely to suffice. Railway is expected to get an additional burden of Rs 3,300 crores due to rise in fuel prices.
In a bid to offset the impact of recent diesel price hike on railway’s revenues, a dynamic fuel adjustment component will be introduced on freight rates from April 1, which will result in less than five per cent increase in rates. Bansal expects this will help freight earning to grow by 9 percent to Rs 93,554 crore.
ADS BY GOOGLE
video of the day
Rupee weakness modest, see yields at 7.60% in Q1: Deutsche