March 14, 2012 / 9:43 AM / 6 years ago

Indian railways passenger fare hike to generate 40 bln rupees

NEW DELHI, March 14 (Reuters) - Indian railways expects to garner 40 billion rupees ($801.20 million) from higher passenger fares in 2012/13, Railways Minister Dinesh Trivedi told reporters.

Earlier, the minister announced the first increase in nearly a decade to passenger fares while presenting the railway budget in parliament. ($1 = 49.9250 Indian rupees) (Reporting by Nigam Prusty; editing by Malini Menon)

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