How is investing in Gold ETF better than jewellery?

What is the right way to invest in gold? Why should you not invest in gold jewellery? What is the benefit of investing in Gold ETF? What should be the share of gold in the portfolio?

  • Last Updated : May 3, 2024, 15:27 IST
Taxi and Auto fare rises(Pixabay)

Mumbai: Commuters in Mumbai will now have to pay a higher fare for auto-rickshaws and taxi rides. There has been an increase of Rs 3 in both auto-rickshaw and taxi fares, according to the Mumbai Metropolitan Region Transport Authority (MMRTA).

The decision was taken at a meeting organised by MMRTA. It had earlier managed to postpone the fare hike in view of the economic challenges caused by the pandemic.

Now, it will rise making the minimum fare for an auto-rickshaw journey to  Rs 21 from Rs 18 (current price) while the minimum fare for a taxi ride has increased to Rs 25 from Rs 22. The approval for the increase in minimum base fare was given by MMRTA in its meeting on Monday.

The rise in the price came when the cost of fuel has seen a steady rise.

Taxi drivers are happy after the decision as there has been no fare hike in the last five years, while the corresponding costs like CNG (compressed natural gas) prices, insurance, and vehicle maintenance have increased substantially.

This rise will help taxi and auto drivers but has also increased the chances of smartphone-operated taxi and cab services who are major competitors to be more preferred with no price change.

However, officials from the transport department, including the transport commissioner Avinash Dhakne, refused to confirm, deny or comment on the increase in fare as transport minister Anil Parab is expected to make an official announcement.

Published: February 23, 2021, 12:16 IST
Exit mobile version