The Railway Minister Lalu Prasad Yadav is likely to cut train fares when he moves to present his sixth and the last interim rail budget prior to the Lok Sabha elections in Parliament on Friday.
Eyeing the upcoming general election, the minister will no doubt highlight the landmark achievements of Railways during his tenure since 2004 with some populist announcements to attract voters to UPA government.
As per records, Railways have recorded an approximately 70,000 crore rupees of profit since the start of UPA tenure in 2004 with lot more people friendly measures, including the introduction of low fare air conditioned trains known as Garib Rath, new super fast trains, services to new areas etc., though it has its share of criticism in terms of amenities.
In the latest released data, the Railways have registered an increase of 13.17 percent in its net earnings during April 1 – January 31, 2009, while its annual growth rate in terms of traffic earnings has been recorded at 14 per cent during the Congress-led UPA regime. Last year alone, the Railways have earned profits of nearly 20,000 crore.
At present, there are 15 Garib Rath running and more likely to come into the track soon. Since 2004, a total of 604 new trains have been introduced along with 105 local trains. Over 2640 trains were added with extra coaches, which further facilitated the revenue generation.
Lalu Prasad, who presented his last five budgets without any such hike in passenger fares, despite the global financial crisis and skyrocketing fuel prices, may this time announce further concession in passenger fares.
According to an agency report, the Union Railway Minister has said the areas in which Railways lacked would be rectified. He also said the budget has not been prepared with an eye on elections, but keeping in view the interests of all citizens since Indian Railways is the lifeline of the country.
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