Railway Budget 2002-03
Railways Minister Nitish Kumar proposes a modest hike in passenger fares and rationalization of freight tariffs in the Railway Budget for 2002-03.india Updated: Feb 20, 2003 12:13 IST
Railways Minister Nitish Kumar proposes a modest hike in passenger fares and rationalization of freight tariffs to net Rs 13.60 billion a year announcing the Railway Budget for 2002-03. Kumar said passenger fare hike will yield Rs 9.10 billion and freight Rs 4.50 billion.
Nitish announced an increase of Rs 1 to Rs 6 in minimum fare for second class, while minimum fare for ordinary second class would go up to Rs 3. Interestingly, the Minister announced that for certain distances, fares would be lower by Rs 1-2 due to the rationalization.
Annual Plan 2002-03
Total plan at Rs 123.30 billion, including outlay of Rs 22.10 billion on safety works.
Fund received from General Exchequer Rs 58.40 billion, including Rs 4.50 billion from Central Road Fund for road safety works.
Market borrowings budgeted at Rs 30 billion, internal generation to provide Rs 26.30 billion and safety surcharge collection expected to be Rs 8.60 billion.
Minimum fare for second class (mail/express) to be increased from Rs 15 to Rs 16. At longer distances up to 341 kms, the increase ranges from Rs 1 to Rs 6.
The minimum fare for ordinary second class will increase from Rs 3 to Rs 4 with the maximum increase for any distance up to 100 kms pegged at only Rs 3.
At certain distances, fares would be lower by Re 1 to Rs 2 due to rationalisation.
For AC First Class a reduction in relativity index from Rs 1,440 to Rs 1,400 has been made to make it more competitive with air travel.
No change in relativity index for other classes of travel.
The fares for distances beyond 100 km for ordinary second class will be fixed at 55 per cent of the second class mail and express fares.
Fares for second class monthly season tickets to be fixed equivalent to fares for 15 single journeys by ordinary second class.
Relativity index for sleeper class (mail/express) to be increased from Rs 155 to Rs 160 and AC chair car from Rs 300 to Rs 350.
There will be no changes in the system of charging for quarterly season tickets, existing fare structure of Rajdhani and Shatabdi and parcel and luggage rates including newspapers and magazines.
First Published: Feb 18, 2003 13:17 IST