Indian Airlines fares have been raised by 15 per cent across the board with immediate effect due to a massive increase in the prices of aviation turbine fuel, Civil Aviation Minister Shahnawaz Hussain
Pattali Makkal Katchi founder S Ramadoss said that Prime Minister Narendra Modi should meet the expectations of the people that prices will go down if he took over and 'it is the duty of the new government to do that.'
Though there was no fare hike proposal in the Rail Budget this time, passengers will have to cough up more for travelling on new trains with added facilities in the coming days.
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Most of the railway-related stocks, which had seen smart gains in the past few days ahead of the Rail Budget, saw profit-booking as Railway Minister Sadananda Gowda presented the Budget.
A call on any passenger fare hike in trains will be taken after discussions in the Cabinet and also with Prime Minister Narendra Modi, Railway Minister Sadanand Gowda said.
Market leader IndiGo on Friday followed its rivals and raised fares by 25 per cent to offset the impact of rupee fall and spike in international crude prices.
The end of the train which hit the wall suffered damage and a portion of the wall collapsed, suggesting that the collision was quite intense.
Train passenger fares may soon be linked to inflation rate, sources say, adding that the new model may be based on the Wholesale Price Index.
'The Centre brought down expenses by as much as Rs 12,000 crore (Rs 120 billion).'
Chief Minister Mamata Banerjee also said 800 cheques would be distributed among the farmers who had not taken them earlier
Hussain said the new government had inherited an "empty treasury" while the prices of oil were shooting up.
The next Rail Budget to be presented early next year could contain a proposal for raising fares to pass on the burden of rising power cost to passengers.
Lalu handled the obstacle of 'departmentalism' with ease.
What the railways need to do is to establish a clear link between higher fares and better service, says T N Ninan.
This optimism is triggered by the feel-good factor in the wake of the Sensex touching record-high levels last week and a slew of discount offers by airlines to boost travel demand.
It is a pity that the Modi government, which began on the right note when it came to pricing issues, has changed colour and become interventionist in its impulses, says T N Ninan.
Metro likely to keep lakhs of cars off city's roads
Railway Minister Suresh Prabhu faces a stiff dilemma on whether to raise fares and freight rates in his second Rail Budget.
The railways is expecting a revenue of Rs 1,84,820 crore during the current financial year (FY17).
The government on Monday slammed Congress leader Kamal Nath for his remarks that Lok Sabha Speaker Sumitra Mahajan's decision on the issue of grant of Leader of Opposition status could be "flavoured" by BJP, saying it is "unfortunate" as the Speaker is above party lines.
Ministers may come and ministers may go but the attitude of the RB remains the same forever, and it is this group that really calls the shots in Indian Railways, says S Pushpavanam.
The government's decision to stop surge pricing by app-based taxi companies Uber and Ola ignores the basic principles of economics to appease a vocal section of the vote bank.
Hitting out at the Congress, Parliamentary Affairs Minister Venkaiah Naidu on Sunday said it should not politicise the issue of the Leader of Opposition status in Lok Sabha.
Trinamool Congress chief Mamata Banerjee on Saturday carried out a major reshuffle in the party set-up
Presenting a report card on completion of 30 days in office on Thursday, Prime Minister Narendra Modi rued that he did not have the luxury of 'honeymoon' period as a "series of allegations" were levelled against his government in less than 100 hours.
Rediff.com contributor Anita Katyal explains why the Congress is ill-equipped to battle the Narendra Modi government in the forthcoming Budget session of Parliament.
Opposition said saying it lacked vision and road map to execute ideas.
'You cannot judge a government within a month. Give us five years' time.' 'At times, strict economic decisions have to be made for the good of the poor in the long run.' Dharmendra Pradhan, one of the Modi government's stars, speaks exclusively to Sheela Bhatt/Rediff.com about why the government is forced to roll out 'bitter medicine.'
Eminent business journalist and author Tamal Bandyopadhyay discussed Budget with rediff.com readers on Tuesday.
The kind of people Narendra Modi has chosen, the decisions he has taken and the rail and central budgets suggests that he is treading carefully in New Delhi. There is less of innovation and more of continuity, so far. He is not ready to rock the boat and start from scratch, says Sheela Bhatt.
'Understand one thing, if you want immediately and magically that things should become cheap, it's not possible. It's a long-term policy.' 'Inflation is linked to the storage system and with the production system. Whenever production rises, prices go lower. So if we store when the prices are low and release them when prices rise, prices can be maintained.' 'The problem is that in our country fruits and vegetables worth Rs 110,000 crore go to waste as they rot. And grains worth Rs 85,000 crore rot. So the storage system is another big reason for inflation.' Union Transport Minister Nitin Gadkari in an exclusive interaction with Sheela Bhatt/Rediff.com
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