New Delhi: The government has initiated “necessary action” to set up a committee to revise the Delhi Metro rail fares, Rajya Sabha was informed on Thursday.
“Delhi Metro Rail Corporation Ltd (DMRC) has requested to constitute 4th Fare Fixation Committee (FFC) for recommending fares for Delhi Metro network. Government has initiated necessary action for this,” Urban Development Minister Venkaiah Naidu said in a written reply.
According to the data provided by the ministry, DMRC registered a net loss before tax of Rs.275.46 crore in 2014-15, a whopping increase of 353 per cent from Rs. 60.74 crore in 2013-14.
The net loss was to the tune of Rs. 7.94 crore in 2012-13. Recently, DMRC chief Mangu Singh had also hinted that it was time for a fare hike as the current charges did not reflect the increase in costs of operation.
The fares were last revised in 2009.
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The fare revision, however, can only be implemented after the recommendations of a panel set up by the Urban Development Ministry have been received.