December 3, 2017 2:01 PM

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Over nine lakh seniors give up Railways ticket subsidy in 3 months

Over nine lakh senior citizens have voluntarily given up their ticket subsidies under the 'give up' scheme of the Railways. It will help the Ministry save around 40 crore rupees. <br/><br/>A senior official of the Ministry said, the figures show that the number of people letting forgoing the subsidy has doubled in one year.<br/><br/>Under the scheme launched last year, senior citizens had the option to either avail the full concession provided to them on rail tickets or forgo the entire amount. This year, a new option was added in which a senior citizen can give up 50 per cent of the subsidy. <br/><br/>The scheme was launched to reduce the nearly 1,300 crore rupees subsidy burden of the Railways in the senior citizen category.<br/><br/>As of now, the Railways bears 43 per cent of the cost of train fare and incurs a loss of about 30,000 crore rupees a year in subsidising passenger fares out of which 1,600 crore rupees is for concessional fares.<br/><br/>Railways recovers only 57 per cent of the expenses incurred for passenger transportation through the sale of tickets of all classes.

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