The increase will range between ₹10 and ₹50.
Annually, metro also shells out an average Rs 500 crore interest on loans it has taken from the Japan International Cooperation Agency (JICA). The maximum fare will be charged for travelling more than 32 km.
He informed that the fare revision will be implemented in two phases. "The second phase will be implemented from October". A hike was last approved in 2009 when the minimum and maximum fares were increased from Rs 6 and Rs 22 to Rs 8 and Rs 30 respectively.
The corporation has itself repeatedly written to the ministry and Delhi government for fare revision over the years, citing rising cost of operation. The Urban Development Secretary Rajiv Gauba was heading the meeting in 2016.
Summary: The Delhi Metro fare panel was headed by Justice ML Mehta, a retired judge of Delhi high court.
A steep jump in electricity, staff and maintenance cost has forced the company to raise prices, a DMRC spokesperson told ETEnergyWorld. "Dearness Allowance has gone up by around 95 per cent while the average minimum wage cost has increased almost 156 per cent", he said.
The revised rates also distinguish rates for Sundays and national holidays giving a 10 percent discount to increase ridership. After October 1, these fares would be between ₹10 and ₹50. The existing 10 per cent discount for smartcard holders will continue.
Off-peak hour has been defined as up to 8 am in the morning, 12 noon to 5 pm and 9 pm till the closing hours.
"The above discount is applicable from Monday to Saturday". Mr Dayal said, passenger using smart card will be given 20% discount during off peak hours while 10% discount on smart card will remain unchanged.
There will be no change in the fares of Airport Express Line.