Mamata rules out rail fare hike, to absorb Rs 275 cr

Mamata rules out rail fare hike, to absorb Rs 275 cr
PRESS TRUST OF INDIA

CALCUTTA, NOV 12: Railway Minister Mamata Banerjee today ruled out any hike in rail passenger fare or freight charges and said the Railways would absorb Rs 275 crore additional costs due to the increase in petro prices.

"The Railways had absorbed Rs 475 crore additional costs from petro price hike last year. We will absorb the effects of petro price hike this year as well," the Minister said.

Despite the rising costs and no increase in fares, the Railways' income would increase as was done last year, she asserted. Speaking at the flagging off of the South Eastern Railway's Howrah-Balichak EMU service here, she said the Railways had achieved a record freight earning last year.

In an apparent reference to the recent bus fare hike by West Bengal government due to the petro price hike by Centre, Banerjee said "one has to use his mind to generate resources. Hiking fare is not necessary for maintaining the financial position."

Commending the performance of SER, Banerjee said it has already surpassed the target of nine million tonne of freight handling, set for the year, and achieved 9.9 mt till date.

Later, inaugurating an Inland Container Depot at Cossipore, near here, the Minister said the Railways has targeted to make a savings of Rs 865 crore this fiscal by cost cutting measures. The savings made last year was Rs 850 crore.