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The Narendra Modi dispensation at the Centre has hiked rates Indian Railways charges today. While passengers and corporates, who will be put out of pocket will complain, rail fare hike was very much required.
Here are 5 benefits the hike may provide:
1. Rail fare hike in passenger and freight together in the remaining period of the year will give the railways approximately Rs 11,000 crore
2. Railways financial health because railway needs money for improving safety, for modernisation as well as for improving passenger amenities.
3. Step will ensure viability of Indian railway finance - it will improve transporter's financial health
4. Step will lead to improvement of shoddy Indian Railways service
5. Annual loss of Indian Railways is about Rs 29,000 crore on passenger traffic alone, this step will help slash that humongous amount