Companies & Sectors
Railways to introduce flexi fare pricing
Indian Railways on Wednesday said that it will introduce flexi fare pricing in its Rajdhani, Duranto and Shatabdi trains from September 9.
 
"The base fares will increase by 10% with every 10% of berths sold subject to a prescribed ceiling limit. There will be no change in the existing fare for 1AC and EC class of travel," a railway ministry statement said. 
 
According to the statement, other supplementary charges like reservation, superfast, catering and service tax will be levied separately.
 
"The changes in fares shall come into force from September 9, while the revised fares will not apply to tickets already issued in advance for journeys to commence on or after September 9," the statement said.
 
The railways further said that vacant berths left at the time of charting would be offered for current booking. 
 
"Tickets under current booking shall be sold at the last price sold for that class and other supplementary charges like reservation fee, superfast charges, catering charges, service tax etc., as applicable shall be levied in full," the statement said.
 
The railways pointed out that flexi fare will be displayed to the passenger during the booking in case the fare of lower class becomes more than that of higher class to give more travel options.
 
"The last price for every class of tickets for the particular train should be printed in the reservation chart for the purpose of charging of difference of fare in the train or charging the passengers of the train without ticket etc.," the release said.
 
The railways said that the present limit of berths set aside for "Tatkal" quota in these trains shall be operated as per the existing guidelines.
 
"No additional charges as "Tatkal charges" will be levied," it said. 
 
"The berths assigned under the Tatkal quota shall be booked at the rate of 1.5 times of the base fare for all classes (2S, SL, 2A, 3A and CC) except 1AC and EC. There shall be no Premium Tatkal Quota in these train services."
 
The railways added that normal concession as applicable for respective concessional ticket will be admissible on the base fare of the ticket at each stage.
 
"There will be no change in the existing refund rules," the statement added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Anil Parikh

3 months ago

as tickets are booked at number of centres how does one know which slab is over.senior citizens should be exempted when travelling alone.

Nissan, Ashok Leyland part ways on JVs
Japanese automobile major Nissan Motor Company Ltd has sold its stakes in three joint ventures with Ashok Leyland Ltd. to the Indian firm, it was announced here on Wednesday.
 
Both companies issued a joint statement to announce Nissan's exit from the three ventures.
 
The two companies have entered into a new agreement, whereby Ashok Leyland will continue to roll out light commercial vehicle models 'Dost' and 'Partner' under a licence from Nissan.
 
The two models are based on Nissan Motor's design, engineering and technology.
 
"Servicing and parts availability for customers will be ensured by a technical support arrangement. In addition, the two companies have agreed to continue a deal to procure Made in India parts to Nissan," the statement said.
 
"We are pleased to be moving forward into a new phase of our business with Ashok Leyland," Philippe Guerin-Boutaud, Nissan corporate vice-president in charge of the Global LCV Business Unit, was quoted as saying in the statement.
 
"Under the licensing arrangement with Ashok Leyland, the Indian commercial vehicle customers can continue to benefit from Nissan's engineering, wherein servicing and parts availability will also be ensured," he added.
 
"We have decided to acquire Nissan's stake in the three joint venture companies, and this will help focus our efforts to concentrate on our core business initiatives and our customers. We will continue our relationship with Nissan under the new arrangement," Vinod Dasari, Managing Director of Ashok Leyland, was quoted as saying.
 
However, the joint statement is silent on the enterprise valuation of the three joint ventures and the price Ashok Leyland -- a listed entity -- will pay Nissan for its stakes.
 
The first joint venture was for the manufacture of LCVs under Ashok Leyland Nissan Vehicles Pvt. Ltd., in which Ashok Leyland owns 51 per cent share while Nissan owns the rest.
 
The other two joint ventures are Nissan Ashok Leyland Powertrain Pvt. Ltd., the powertrain manufacturing company, owned 51 per cent by Nissan and 49 per cent by Ashok Leyland; and Nissan Ashok Leyland Technologies Pvt. Ltd., the technology development company, owned 50:50 by the two partners.
 
In February, Nissan Motor had sent a sent a notice to Ashok Leyland Ltd. to terminate its technology development joint venture Nissan Ashok Leyland Technologies Pvt. Ltd. over non-payment of royalty.
 
The termination notice was issued soon after Ashok Leyland sent a legal notice to Nissan Motor for using the equipment owned by another joint venture company to roll out cars instead of the LCVs.
 
Ashok Leyland had turned out four vehicle models from its partnership with Nissan -- Dost, Mitr, Partner and Stile -- while for Nissan it was only Evalia.
 
While Nissan put a halt to Evalia manufacture, Ashok Leyland stopped production of Stile later as the vehicle was not doing well in the market. However, Dost has been doing well for Ashok Leyland.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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4G telecom service to rake in Rs 79,580 crore
With unfolding competition in the mobile data market, 4G connections are likely to account for 17% of the total user base by 2020 with revenues in the range of Rs79,580 crore, an Assocham-KPMG report said on Wednesday.
 
According to the report, the entire business mix of the telecom industry is going to witness a sea change and the introduction of 4G on large scale by one of the largest corporate houses is going to be a major development.
 
"4G is expected to significantly transform the revenue mix of service providers with estimated Long Term Evolution (LTE) revenues expected to reach Rs79,580 crore in the next few years," a statement said.
 
The report said the demand for high speed internet services would receive a further push from key governmental initiatives such as 'Digital India' and 'Smart Cities'. Besides mobile networks have been identified as key tools for financial inclusion where 4G can facilitate implementation of government's social sector schemes in a faster and secure way.
 
The report further said handset manufacturers are up to with the growing market of current and future 4G users.
 
It said the telecom sector in India is at an inflexion point, where it is poised not only to ride a high growth trajectory but also to provide a strong impetus to the government's key development initiatives.
 
However, the report also sounded a word of caution. "While demand growth is expected to remain steady on the back of affordable smart phones, digital inclusion programs and 4G rollouts, high capital requirements and an extremely competitive scenario continue to affect the profitability of key players," the report said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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