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.
News On AIR | December 3, 2017 2:01 PM
Over nine lakh seniors give up Railways ticket subsidy in 3 months