Cab Fares Likely To Get Cheaper As Government Caps "Surge Price"
The government has capped the surge pricing of the cab aggregators at 1.5 times the base price. The move will bring down the fare charges of the cab aggregators such as Ola and Uber. It will also bar the aggregator to reduce prices 50% below the base fare to limit the fare volatility. This move aims to promote asset utilization and to ensure substantiate dynamic pricing principle.