Modi government hikes railway fare by 14.2 percent, freight charges expanded by 6.5 percent
Image Source: Indianrailways Six days after Prime Minister Narendra Modi talked in Goa on the need to take "tough decisions" to resuscitate the economy, the government on Friday endorsed a soak hike in the train fares and freight rates. Successful from June 25, fares of all classes are situated to climb by 14.2 per cent, while the freight rates will go up by 6.5 per cent. Railway Minister Sadananda Gowda had looked for the approbation of Modi to reveal the "disliked move" scarcely several prior weeks the government's first rail budget. Gowda had additionally presented a defense for the hike to Finance Minister Arun Jaitley not long ago. To the extent that 4.2 per cent of the fare hike is by virtue of a variable Fuel Adjustment Component (FAC) sanction in a year ago rail budget. The staying 10 per cent is a level hike over all classes. Essentially, freight rates will have a five per cent hike level far beyond a 1.4 per cent of the FAC. Railwa