While now the minimum and maximum fares are at Rs 8 and Rs 30 respectively, the 66 per cent hike will make them both Rs 10 and Rs 50, respectively.
The new fare structure has been divided into six slabs: Rs 10 (0-2 km), Rs 15 (2-5 km), Rs 20 (5-12 km), Rs 30 (12-21 km), Rs 40 (21-32 km) and Rs 50 (beyond 32 km).
Last year, the Fare Fixation Committee of Delhi Metro submitted its report and recommended the lowest fares to be increased to Rs 10 from Rs 8 now, and the maximum fare to Rs 50 from Rs 30 at present.
"The fare revision will be implemented in two phases". The revised fares will come into effect from Wednesday. "Phase-I will be implemented from May 10, while Phase II will be implemented from October 1", said a DMRC spokesperson. The official also termed as "speculation" reports in the media about the quantum of hike in fares.
"The Delhi government had told DMRC increase in fares will force commuters to shift to personal vehicles and in fact fares should be reduced".
The last time fares on the Delhi Metro were increased was in 2009, just before the Noida line began functioning.
"This discount will be given to those who exit from Metro system during off-peak hours - (6 am to 8 am, 12 pm to 5 pm, and from 9 pm to closing of service) to avoid overcrowding during peak hours", Dayal said.
The fare fixation committee's recommendation was to make the increase tempered, said KK Saberwal, Director-Finance, DMRC. The fare beyond 32 km will be RS 50, Mr Dayal said.To encourage ridership on Sundays and national holidays (January 26, August 15 and October 2), special discounted fares have been approved for these days.
The government formed a three-member panel to look into it only in 2016 for revision of the prices.