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Delhi Metro Rail Corporation will urge for an automatic fare revision formula from the fare fixation committee to be set up by the Government, said DMRC Managing Director, Mangu Singh, on the sidelines of an Indo-Japan conference.
DMRC has faced about 40 per cent increase in fuel costs in the last one year due to rising electricity fares in Delhi, said Singh.
DMRC has been demanding an upward fare revision for over a year now. The Urban Development Ministry has not yet set up a fare fixation committee. The Delhi Government is set to face elections this year.
An automatic fare revision formula will ensure that passenger fares go up in sync with costs and reduce political interference in fare setting.
DMRC's earnings have gone up by 15-17 per cent in the last one year primarily due to an increase in ridership, said Singh.
Delhi Metro moves 22-23 lakh passengers every day.
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