India increases freight rates for coal and iron ore

India increases freight rates for coal and iron ore

According to the statement released by Indian government, freight rates for commodities such as coal, iron ore, manganese ore, cement and limestone has been increased with the purpose of offsetting the rise in working expenses of Indian Railways. It is stated that the rise in the freight rates will not have a significant effect on the prices. The government forecasts the revenue that will be obtained through the increase in the freight rates this year will be Rupees 4 billion ($91.3 million).