Thursday, May 19 2005 20:22 Hrs (IST) - World Time -

New Delhi: Railway Minister Laloo Prasad today (May 19, 2005) ruled out any increase in passenger fares.

"No increase", Prasad told a crowded joint Press Conference with Deputy chairperson of the Planning Commission Montek Singh Ahluwalia at Rail Bhavan.

They were addressing the Conference about the mid-term appraisal of the 10th Five Year plan and initiatives taken by the Government about modernisation of Railways, Public-Private partnership in Railway projects, construction of Dedicated Freight Corridor and improve financial conditions of the Railways.

Minister of State for Railways R Velu and Chairman Railway Board R K Singh were also present.

Railway Minister Prasad announced that the infrastructure Committee headed by Prime Minister Manmohan Singh has approved a Dedicated Freight Corridor between Delhi-Mumbai and Delhi-Kolkata sectors costing over 22,500 crores approximately.

"This Freight Corridor, linking the Golden Quadrilateral and its Diagonals will not be only a new line but would bring new technique and culture", he said.

Ahluwalia said two other Corridors- Chennai-Kolkata and Chennai-Mumbai will be taken up at later stage and said one of the major objective was to "decongest" the traffic adopting innovative methods.