Railways raises freight rate on iron ore

The Indian Railways has increased the freight rate on iron-ore transportation by 5-6% by reclassifying it into ‘class-180’ from ‘class-170’. The change in the rate of freight is effective from April 1. The Railways has also announced some changes in the surcharge rates. While the surcharge on iron ore transported to ports for export has been increased to 100% from 60%, the surcharge on ore meant for domestic use has been reduced to 30% from 60%. The change in surcharges will be effective from April 15.