Rail fares may be reduced next budget

Rail fares may be reduced  next budget

The next rail budget may have some reduction in passenger fare owing to decrease in prices of diesel. 

Hinting at it, the Chairman Railway Board (CRB) Arunendra Kumar told reporters on Friday that changes in prices of crude would automatically be reflected in the budget.

The CRB said Fuel Adjustment Component (FAC) calculations are done every six months, and they are due in February 2015. 

However, he refused say outright whether the passenger fare would go down. Kumar was speaking at an investors' meet convened by railways to woo investors. The meet was attended by important corporate groups, including Reliance, GMR and Gammon India.

The CRB said: “We have released a booklet on the guidelines of private investment and Foreign Direct Investment. We could incorporate changes suggested by the industries. The terms could be further liberalised.”

Kumar also claimed that there had been tremendous response from abroad, and that they are receiving numerous queries. He said Japan, South Korea, Singapore, Franc and  Belgium might be potential investors.

Earlier, addressing the meet, Rail Minister Suresh Prabhu expressed the railways’ desire to attract capital and technology. The railways would organise roadshows in India and abroad to woo private investments, said Kumar.

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