In a pre-budget move, cash-strapped railways on Tuesday effected a steep across-the-board hike of 14.2 per cent in passenger fares in all classes and a 6.5 per cent increase in freight rates to garner Rs.8000 crore a year.The decision, which will come into effect from June 25, marks implementation of an announcement of May 16, the day Lok Sabha election results came, when the hike was announced but put on hold immediately.
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