NEW DELHI (Metro Rail News): According to an official statement, the Indian Railways earned Rs 95,929,30 Crore freight revenue between April & October.
Improvement in Revenue
Indian Railways earned a sum of Rs 92,345.27 crore in the same period. It has registered an improvement of Rs 3.584.03 crores in this fiscal year. Along with the sane, the Indian Railways hauled 887.25 MT of freight between April and October.
Freight revenue of Rs 14,231.05 Crore was already earned in October this year compared to Rs 13,353.81 Crore last year. This registers a growth of 6.57 per cent for October.
Growth in Freight Carriage
So far, Indian railways have registered an improvement of 36.12 MT in freight carriage in the same period. Additionally, an originating freight loading of 129.03 MT has already been achieved, compared to the 118.95 MT in October last year.
An improvement of about 8.47 per cent has already been recorded in Frieight Carriage for October.
Freight Carriage
Indian Railways is the national transporter of the country that carries freight of high volumes every year from one corner to another corner of the nation. The freight includes coal, iron, cement, food grains, fertilisers, etc. It also facilitates container service for the supply of goods.
Economic Perspective
From April to July 2023, the Indian Railways experienced a mere 1% growth in its freight volume and a modest 3% increase in its revenue. In contrast, the country’s economy has surged by 7%. This performance can be described as quite disappointing.
Furthermore, it’s worth noting that the Indian Railways’ share in the nation’s freight transportation has dwindled steadily, now standing at approximately 27%, a significant drop from the over 80% share it held at the time of India’s independence.
Role of Freight Carriage for IR
In the report delivered to Parliament on August 8, 2023, the Comptroller and Auditor General of India (CAG) revealed a recurring issue within the Indian Railways. According to the report, in the fiscal year 2021-22, passenger services across all categories incurred a significant loss of ₹68,269 crore. Notably, the profits generated from freight traffic were entirely offset by the need to subsidise passenger services, which has been an ongoing challenge for the Indian Railways.
This tells us tremendously about the role of freight carriage in sustaining the Indian Railways in the Long run, as this is the only segment that gets the IR a decent amount of revenue to balance its books.
Discover the endless possibilities of our city’s Metro at InnoMetro, our flagship Expo and Conference. Be an active participant in shaping its future towards a more sustainable tomorrow. Stay informed and join us to take a step towards a brighter future.
