Hailing the Rail Budget 2016-16 as "passenger-centric" as it entails no fare hike, Modi said it will play an important role in the country's rejuvenation.
The stay on the fare hikes of Mumbai Metro will continue for another month with the Bombay High Court today rejecting a plea for early date and scheduled a bunch of petitions on the issue for hearing on March 18.
The proposed hike in Mumbai Metro Rail fares would not be implemented till February 11 as the Bombay High Court today adjourned the hearing till then to enable the parties seek clarification from the Supreme Court.
Emkay feels the Budget estimates for improved operating profit is based on optimistic assumptions for freight and passenger traffic and also the ability to contain costs.
After announcing a Railway Budget with no fare hikes, despite the fuel hike that will cost the Indian Railways Rs 850 crore, Railway Minister PK Bansal says he is just trying to meet the aspirational needs of the people.
SK Nevatia, CMD, Hind Rectifiers is not sure as to how increase in freight cost will help the company because freight things mostly run on diesel. However, Nevatia feels the Budget this year is better than the previous year.
Editors note: This piece was originally published when Railway Minister Pawan Kumar Bansal announced a fare hike in January 2013.
Faced with mounting deficit of over Rs 20,000 crore in the passenger segment, Railways is keen on raising passenger fares between 5-10 paise per km in the coming months to generate the revenue of about Rs 4,000 crore.
Railways Minister Dinesh Trivedi tells CNBC-TV18 that the fare hike announced today in the Railway Budget is minimal and that the 'aam admi' will be able to afford it.
As part of Rail Budget 2012, minister Dinesh Trivedi announced a hike in 2nd class passenger fares by 2 paise per kilometre for the first time in 10 years.
A section of auto rickshaws in the metropolis kept off roads to demand a fare hike causing inconvenience to office goers in the morning rush hour.