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Presenting his first rail budget, Bansal said the Railways has joined the 1 billion tonne freight club and by end of 2013-14, 1,500 km of contracts to be awarded for two dedicated rail corridors.
Union Railway Minister Pawan Kumar Bansal presents his maiden rail Budget.
Railway Minister Pawan Kumar Bansal on Monday met Congress President Sonia Gandhi ahead of Parliament session beginning from February 21.
While annoucing the increase in fares, Railway Minister Pawan Kumar Bansal also said prices will not be hiked in the annual Rail Budget to be announced in February.
Railways is keen on raising passenger fares between 5-10 paise per km in the coming months to generate about Rs 4,000 crore revenue.
Industry body Assocham is seeking a railway budget focussed on safety and modernisation.
Railways witnessed a widening gap between operational cost and passenger earnings while freight revenue also fell below the target in 2012.
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