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Despite a hike in freight charges and a partial increase in upper class fares, the Railways’ earnings have fallen short of the target for the first quarter of the current fiscal by Rs 668 crore, the Lok Sabha was told today.
Though the Railways earnings have gone up, they have fallen short of the target for April-June this year, Minister of State for Railways K H Muniyappa said in a written reply.
The Railways earned Rs 29,610 cr during the period this year against a target of Rs 30,278 crore.
Railways had increased the freight rates by more than 20 per cent before the Rail Budget this year and there was an upward revision of passenger fares in AC-2 and AC-1 and first class segment in the current fiscal.
As per the Rail Budget decision, passenger fares were increased 10 paise per km in first class, 15 paisa per km for AC 2 and 30 paisa per km for AC 1 from April 1 this year.
Platform ticket price was also increased to Rs 5 from April.
However, despite failing to meet the first quarter target railways earnings have increased by Rs 5411 cr till June 2012 as compared to the corresponsing period last year, Muniyappa said.
Railways earned Rs 24,199 cr in April-June 2011 as compared to Rs 29,610 cr in the same period this year, registering 22 per cent growth, he said.
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