New Delhi:
On July 23, 2024, the Modi government’s first budget of its third term will be presented.
This budget is eagerly anticipated not only by the salaried class but also by farmers and railway passengers.
One of the key expectations is a possible announcement regarding income tax reforms.
Hopes for Senior Citizens’ Rail Fare Concessions
Senior citizens, especially those traveling by train, are hopeful that the government will reinstate concessions on ticket fares.
This move, if implemented, would mark a significant policy shift in the government’s third term.
Discussion on Restoring Rail Fare Discounts
During the COVID-19 pandemic in March 2020, the Indian Railways discontinued discounts on train fares for senior citizens, affecting millions.
Recent discussions suggest a possibility of reinstating these discounts after a gap of four years.
Financial Implications and Revenue Insights
The decision to withdraw discounts was financially beneficial for the railways, resulting in a revenue increase of Rs 5,062 crore over four years.
However, there is now a debate on reintroducing discounts, focusing possibly on sleeper class fares to minimize financial strain on the railways.
Parliamentary Debate and Government Response
The issue of fare concessions for senior citizens has recently been debated in Parliament.
The Railway Minister highlighted existing subsidies and financial implications, emphasizing the challenges of reinstating concessions amidst budgetary constraints.
