Mumbai local, sleeper class train travel set to get more expensive
With the price rise, Railways aims to reduce the subsidy burden.
Indian Railways might be contemplating hiking fares for its sleeper class tickets and Mumbai suburban train, also known as Mumbai locals, Sameer Dixit reports.
Sources told Zee Business that the Railways has already proposed its view to Ministry of Finance. Apart from the tickets price hike, Railways has also put forward an idea which pointed out that the states should bear the subsidy. So, for instance, subsidy for Mumbai sub-urban will be paid by Maharashtra government.
Every year, Indian Railways pay subsidy of Rs 5000 crore for local trains running in Mumbai. For sleeper class, Indian Railways pays Rs 6000 crore every year as subsidy.
With the price rise, Railways aims to reduce the subsidy burden.
Railway Budget will be presented together with the Union Budget on February 1, 2017 breaking a 92-year old practice of presenting a separate Railway budget.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.