New Delhi:
The Indian Railways is likely to suffer a loss of Rs.24,600 crore in fiscal year ending March 31 as compared to Rs.22,500 crore in the previous fiscal, Railways Minister Pawan Kumar Bansal said on Tuesday.
Presenting the railway budget in parliament, Bansal said losses had increased sharply in the past one decade due to rising input cost and near stagnant revenue due to no revision in passenger fare.
The railways posted a loss of Rs.4,955 crore in 2002-03.
This was Bansal's maiden rail budget and a first by a Congress minister in 17 years.