Indian Rail Raises Fares to Pare Losses From Subsidized Travel
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Indian Railways, losing more than $4.5 billion annually from passenger services, will raise fares this month as Asia’s oldest network seeks funds to pay for upgrading facilities.
The fare increase, ranging from 0.02 rupee to 0.10 rupees a kilometer, will come into effect from Jan. 22 and help the carrier add 66 billion rupees ($1.2 billion) in revenue a year, Railway Minister Pawan Kumar Bansal told reporters in New Delhi today. There is no increase in freight rates, he said.