(News) Rail Tariff Authority

Indian Railways : Rail Tariff Authority

The Union Cabinet today gave its approval forsetting up of a Rail Tariff Authority, as an advisory body, through a Government Resolution, pending amendment of the Railway Act, 1989.

The setting up of such an authority will institutionalize a regulatory mechanism at arms length for pricing of passenger and freight services.

The Rail Tariff Authority shall comprise a Chairperson and four Members at the apex level and will be vested with the function to develop an integrated, transparent and dynamic pricing mechanism for the passenger and freight segments of the Indian Railway's business. It will also advise the Central Government on fixation of tariff, based on cost of operations and factors impinging it, to help generate requisite surpluses for healthy growth in the future.

Courtesy : PIB