The much-awaited Tariff Regulatory Authority (TRA) of the Indian Railways will not only include representatives of various central ministries but also professionals from the world of finance.
The TRA will recommend changes in passenger fares and freight rates to the government. The tariff authority's role, however, would be purely advisory in nature, and its decision will not be binding on the government. Sources said that the panel is likely to induct representatives from petroleum, food, industry and commerce, coal and steel ministries. "The idea is to take inputs from all the sectors directly associated with the Railways," said a top official.
The government is also planning to bring representatives from industry bodies and chambers of commerce to give inputs on tariff amendments because India's freight rates-currently one of the highest in the region-directly add to input costs of industries and related activities.