Finance Minister Arun Jaitley, who for the first time in almost 92 years will present the Union and Railway Budget together at 11 am today, is expected to increase the Rail fares by at least 7 per cent for the next fiscal year.
According to the Indian Express report, that highly subsidised passenger segments, especially the non-AC classes will see a fare hike.
According to the reports, the railways estimates for next year is expected to be around Rs 1.88 lakh crore, Rs 16,000 crore more than previous year’s projections.
FM Jaitley is also likely to announce the setting up of a Rs 1 lakh crore special fund, Rashtriya Rail Sanrakshan Kosh (RRSK), for a five-year safety upgrade.
Meanwhile, the uncertainty that prevailed on Wednesday over whether or not the Union Budget will be presented after the death of sitting MP A Ahamed, ended after the government consulted all parties and arrived at a consensus that the Budget should be presented as planned.
— ANI (@ANI_news) February 1, 2017
President Pranab Muhkerjee also gives his assent.