Hours after Karnataka CM Siddaramaiah directed BMRCL to revise fares, BMRCL has decided to rectify anomalies.
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.