Agencies, New Delhi Beset by an 18 per cent annual increase in losses and a 10.6 per cent annual increase in input costs since 2004-05, the Railways today announced a hike in passenger fares from January 21.
As per the hike in passenger fares, announced by Railways Minister Pawan Kumar Bansal here, the per km increase in fares for Second class ordinary (Suburban) is two paise while that for second class ordinary (non suburban) is three paise and the hike in second class fares for mail and Express trains is four paise.
There will be a six paise per km hike in sleeper class fares while for AC chair car, the hike in fares will be ten paise per km.In the AC 3 Tier category, the hike in fares is ten paise per km. The hike in first class fares will be three paise, in addition to ten paise per km hike already implemented from April 1, 2012 while for AC 2 Tier, the hike is six paise per km, in addition to a hike of 15 paise per km implemented from April 1, 2012. The fares in AC first first class will be hiked by ten paise per km, in addition to the 30 paise per km hike implemented from April 1, 2012.
The increase in fares will be effective from the midnight of January 21, 2013. Announcing the hike in fares at a news conference here, Mr Bansal said the increase in Railways fares has become imperative in view of the rising losses in the passenger segment and a 10.6 per cent PA increase in input costs. He said the hike in fares would help mop up Rs 6,600 crore for the Railways.