Title - Cabinet clears Rail Tariff Authority

New Delhi:
In a move that would free the Indian Railways of the political masters, the Union Cabinet today cleared the formation of the Rail Tariff Authority which would take a call periodically to revise the rail fares, both passenger and freight, and in the process gives a fresh lease of life to the fledging finances of the public sector behemoth.The cabinet at its meeting chaired by Prime Minister Manmohan Singh gave a nod for the setting up of the tariff authority for the railways in line with the broad contours which had been finalised by the Railways.Required amendments would be carried out in the Railway Act and placed before Parliament in the forthcoming session for clearance and the formation of the authority, reports said.The move would come as a major relief for the Indian Railways, whose finances have been taking a beating over the years, with successive railway ministers choosing to overlook the financial health of one of the world's largest railway networks over their political constituencies.

The authority would, as per the needs, take a look at the fares of the railways and revise them if need be.

In fact, former Railway Minister Dinesh Trivedi from the Tirnamool Congress, lost his job after he initiated a move to raise fares.

The RTA was mooted by Trivedi in his rail budget 2012-13 as part of the move to delink railways financial health from politics.

Reports said the RTA will be a five-member body headed by its Chairman. A current Railway Board Member is being tipped to head the regulatory body.