BILAL HUSSAIN
Srinagar: Finally, the heat of the spiraling oil prices that have set global markets on fire was felt by the common commuter in the Valley, with new fare structure coming into effect from Wednesday.
Following the three day wheel-jam in J&K, government had acceded to the demand of the transporters and announced 14 per cent hike in the passenger fares last month. However, the official notification of the new fare structure was issued on Tuesday and the new fare rates were implemented from Wednesday.
Besides the burden on the common consumer in terms of extra fare, experts here believe, the increase in the transportation cost would have direct impact on the state inflation. "The inter-district movement of the essential commodities would become costlier which in turn would increase the price of several commodities," local economists said.
Head, Economics Department, Kashmir University, Prof G M Bhat said the increase in the passenger fare and freight would lead to general price hike. "The hike in transportation is a double edged sword and has two way effect; one, the commuters have to shell out more on bus fare, two there will be general price increase," he said.
The cost of movement is the significant parameter while determining the cost of life in any place, he added.
Market analysts here believe the increase in the moving cost has completely been shifted to the commoners. "The hike in the oil prices has put pressure on the transporters and to compensate them government increased the cost of transportation. The final burden would be borne by the common man," said Nazir Ahmad, a government employee.
The increase in fare would force most of the people to redraft their daily and monthly budgets to accommodate the hike. "I used to keep a specific amount for the movement cost on monthly basis. Now I have to adjust the hike in coming days," said Owais Nazir, a resident of Budgam.
The J&K government vide SRO-210 provided levying of 14 per cent surcharge in respect of big and medium passenger services, 11 per cent surcharge in respect of Tata sumo and similar other vehicles and 10 per cent surcharge in respect of auto rickshaws on the existing notified passenger fare.
"To give some relief to the common man, the state government should have lowered the rate of taxes on petroleum products instead of increasing the fares," said, Irshad Ahmad Wani, a banker.
Meanwhile, the transporters have expressed satisfaction with the implementation of the fare hike. "The hike was long time due as it has given us some respite," said a min-bus driver.
Srinagar: Finally, the heat of the spiraling oil prices that have set global markets on fire was felt by the common commuter in the Valley, with new fare structure coming into effect from Wednesday.
Following the three day wheel-jam in J&K, government had acceded to the demand of the transporters and announced 14 per cent hike in the passenger fares last month. However, the official notification of the new fare structure was issued on Tuesday and the new fare rates were implemented from Wednesday.
Besides the burden on the common consumer in terms of extra fare, experts here believe, the increase in the transportation cost would have direct impact on the state inflation. "The inter-district movement of the essential commodities would become costlier which in turn would increase the price of several commodities," local economists said.
Head, Economics Department, Kashmir University, Prof G M Bhat said the increase in the passenger fare and freight would lead to general price hike. "The hike in transportation is a double edged sword and has two way effect; one, the commuters have to shell out more on bus fare, two there will be general price increase," he said.
The cost of movement is the significant parameter while determining the cost of life in any place, he added.
Market analysts here believe the increase in the moving cost has completely been shifted to the commoners. "The hike in the oil prices has put pressure on the transporters and to compensate them government increased the cost of transportation. The final burden would be borne by the common man," said Nazir Ahmad, a government employee.
The increase in fare would force most of the people to redraft their daily and monthly budgets to accommodate the hike. "I used to keep a specific amount for the movement cost on monthly basis. Now I have to adjust the hike in coming days," said Owais Nazir, a resident of Budgam.
The J&K government vide SRO-210 provided levying of 14 per cent surcharge in respect of big and medium passenger services, 11 per cent surcharge in respect of Tata sumo and similar other vehicles and 10 per cent surcharge in respect of auto rickshaws on the existing notified passenger fare.
"To give some relief to the common man, the state government should have lowered the rate of taxes on petroleum products instead of increasing the fares," said, Irshad Ahmad Wani, a banker.
Meanwhile, the transporters have expressed satisfaction with the implementation of the fare hike. "The hike was long time due as it has given us some respite," said a min-bus driver.
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