The rail freight tariff would be hiked from October 1, considering global oil prices, minister of state for railways Adhir Ranjan Chowdhury said on Tuesday.
?In the Budget, it was proposed that due to rising diesel prices, rail freight tariff will be hiked at the end of six-months period, as such from October 1, the fare would be increased in a very dynamic way,? Chowdhury said.
Conceding that the Indian Railways is facing acute shortage of funds, the minister invited private sector participation in the sector in a big way.
?Till date we?ve failed to lure private investments in the railways segment. While there is private investment in telecom sector to the extent of 82%, in ports of about 80% and in roads 16%, in railways it is still almost negligible,? he added.
The minister said India needs to take cue from China that has made huge progress in railway infrastructure.