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7:08 am - Wednesday May 27, 2015

Decision on fare hike, FDI in rail sector soon: Gowda

gowdaAgencies, New Delhi
A decision on hiking passenger fares and on allowing foreign direct investment in railways is likely to be taken before the Rail Budget, the government said.

A discussion on these matters is already on and a decision regarding them will be taken shortly, Railway Minister Sadananda Gowda said.
“We are discussing the matter and, within three-four days, will come to a conclusion (regarding the possible fare hike),” Gowda said on the sidelines of a conference of senior railway officials in New Delhi.

He is likely to meet Prime Minister Narendra Modi in a day or two to discuss the fare hike issue.

Faced with an acute cash crunch, the Railway Board has proposed a 14.2 per cent hike in passenger fares along with a 6.5 per cent increase in freight rates.

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