New fiscal sees quantum leap for mkt economy

new delhi: the first day of the new financial year saw several new policy changes come into force. oil prices were freed. revised postal rates and train fares and freight rates took effect. international long distance telephony ceased to be a monopoly and internet telephony became legal. while the effect of these changes is to raise costs for the consumer in some cases and lower them in others, the common thread running through all of them is that prices are coming closer to being determined by the market. according to estimates, internet telephony may account for up to two per cent of total long distance traffic in next three years. ip telephony, which includes both voip and internet telephony, has a market share of about three per cent worldwide.for tariff purposes, trai has treated internet telephony as a value-added application provided by the isps. therefore, the regular tariffs will not be applicable on internet telephony. the new postal tariff has certain postal articles such as printed post card post card going up by 100 per cent, while there is an increase of between 25-50 per cent increase in tariffs on other postal articles including envelopes and parcels. train fares have been hiked, least for high-priced ac sleeper classes and the most for the subsidised sleeper class and ac chair car services. overall, passenger fares for rail travel went up between 4-18 per cent. the changes in passenger fares are expected to yield about rs 450 crore this year. freight rates too have been altered to reduce the irrational taper.