Saturday, June 21, 2014

Revision of Passenger Fare & Freight Rate will Come into Effect from 25.6.2014

Revision of Passenger Fare & Freight Rate will Come into Effect from 25.6.2014
The Railway passenger fare and freight rate revision was done as part of interim budget presented by the previous government. But the implementation of revised rates was withdrawn by previous regime because of the elections. Meeting the annual expenditure would not be possible unless the revised rates as finalized by previous government is implemented, hence order of withdrawing implementation of revised fare and freight has been withdrawn. Accordingly, the revised passenger fare and freight rates & freight structure rationalization will come into effect from 25th June 2014 (i.e. w.e.f. 0000 hours of 25th June 2014).

In nutshell, following are the changes to be effective from 25th June 2014 (i.e. w.e.f. 0000 hours of 25th June 2014).

FREIGHT :

    A flat 5% increase in freight rates and an additional increase of 1.4% on account of FAC (Fuel adjustment Component) which was due since April 2014. The overall increase in freight rates will be 6.5% approx .for major commodities.

    Withdrawal of short lead concession in charging of freight for all traffic booked upto 100 kms. Minimum distance for charge has been increased from existing 100 kms to 125 kms.

    The number of Low Rated Classes have been reduced from 4 to 3. Certain concessions in case of some of these commodities has also been withdrawn.



PASSENGER :

    A flat 10% increase in all classes. There will be no increase upto minimum distance for charge. In addition there will be an increase of 4.2% in fares on account of FAC which is due from April 2014.

    Second Class Monthly Season Ticket (MST) fares of Suburban and Non-suburban shall be charged on the basis of 30 single journeys instead of approximately 15 single journeys.  Fares of First Class Monthly Season Tickets will be charged @ 4 times the Second Class Monthly Season Tickets (MST) Fares as is done presently.  Revised fare shall also be applicable as per the existing method of computation on Quarterly Season Tickets (QST), Half Yearly Season Tickets (HST) and Yearly Season Tickets (YST), etc.  these revisions have been shown in the Season Ticket Fare Tables.



Other Charges:

    There shall be no change in charges for reservation fee, superfast surcharge etc.  Such charges, wherever applicable, shall continue to be levied additionally as per existing instructions.

    Service tax will continue to be levied as applicable as per instructions issued in this regard.
    The revised fares will also apply to tickets issued in advance for journeys to commence on or after 25.06.2014.

    In the case of tickets already issued at pre-revised rates, the difference in fares and other charges on or after 25.06.2014 will be recovered either by TTEs on the trains or by the Booking/Reservation Offices before the commencement of journey by passengers.


Source : PIB

50 paise postcard costs Rs 7 to Postal Department

50 paise postcard costs Rs 7 to Postal Department

A postcard which is sold for 50 paise actually costs the government Rs 7, according to an RTI response from the postal department listing the costs incurred by it on such services which are proving to be loss-making propositions for it.


In the year 2012-13, the per unit revenue earned from the sale of postcards was 50 paise whereas, to keep the service running, the per unit cost came to Rs 7.18, down from Rs 7.50 during 2010-11, the department said in its RTI response.

Similarly, the printed postcard was bringing a revenue of Rs 6 although the cost incurred on it was Rs 7.19 per unit in the year 2012-13. The RTI query further found that the cost of a letter card was Rs 7.18 per unit whereas the revenue earned from it was Rs 2.50.

The postal department also incurs a loss in dispatching registered newspapers with the per unit cost for a single dispatch being Rs 10.59 while Rs 20.79 is the cost for sending newspaper bundles. However, the revenue earned is a meagre 59 paise for single and Rs 1.63 for bundled dispatches, the reply said.

The postal department also said that while insurance is offered at Rs 55.24, its cost was almost three times at Rs 141.82 during 2012-13. Each dispatch of a book packet costs the department Rs 9.51 but the revenue earned by it for every delivery is Rs 2.90.

Each parcel brings revenue of Rs 40.69 while the cost incurred for sending the same is Rs 46.58. Printed books gave a revenue of Rs 2.90 to the department while the cost of dispatching such material was Rs 12.44, it added.

The response provided to applicant SC Agrawal said, "It is submitted that no annual profit and loss account is prepared in this section. However, allocation of expenditure and revenue to around 30 services is being maintained every year as an annual costing exercise on the basis of data received from different sections of the directorate."

Source : The Economic Times

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