Indian Railways announced a significant increase in its freight transportation and revenue for the period from April to October this year.
During this time, they transported 887.25 million tonnes (MT) of freight, which marked a substantial growth of 31.61 MT compared to the same period in the previous year.
The national railway system reported a freight revenue of Rs 95,929.30 crore for this period, as opposed to Rs 92,345.27 crore in the corresponding period last year, reflecting an impressive increase of approximately Rs 3,584.03 crore.
In October alone, Indian Railways accomplished an originating freight loading of 129.03 MT, representing an improvement of approximately 8.47 per cent when compared to 118.95 MT in October of the previous year, reports Economic Times.
For the month of October, the railways generated a freight revenue of Rs 14,231.05 crore, which demonstrated a growth of about 6.57 per cent in comparison to the Rs 13,353.81 crore earned in the same month of the preceding year.
Indian Railways experienced substantial growth in its revenue and investments during the fiscal year 2022-23. In terms of traffic revenue, passenger revenue increased significantly, reaching Rs 63,300 crore, a substantial 61 per cent higher than the previous fiscal year's figure of Rs 39,214 crore.
Other coaching revenue also witnessed a notable uptick, with Rs 5,951 crore in 2022-23 compared to Rs 4,899 crore in 2021-22, marking a 21 per cent increase. Sundries revenue stood at Rs 8,440 crore during FY 2022-23, a notable 39 per cent increase from Rs 6,067 crore in 2021-22.
The overall Gross revenue for Indian Railways in 2022-23 amounted to Rs 2,39,803 crore, a substantial increase from Rs 1,91,278 crore in the previous fiscal year.
Gross Traffic receipts also experienced significant growth, reaching Rs 2,39,750 crore, compared to Rs 1,91,206 crore in 2021-22. The total Railway Receipts for the fiscal year 2022-23 amounted to Rs 2,39,892 crore, significantly higher than the Rs 1,91,367 crore reported in 2021-22.
The Railway's total expenditure during 2022-23 reached Rs 2,37,375 crore, compared to Rs 2,06,391 crore in the previous fiscal year, resulting in an operating ratio of 98.14 per cent.
To enhance capacity and infrastructure, a substantial investment of Rs 1 lakh crore was made. The fiscal year 2022-23 saw the highest-ever commissioning of new rail lines and doubling/multi-tracking, covering a total of 5,243 kilometres.
Furthermore, 6,565 kilometres of track were electrified with an investment of Rs 6,657 crore, taking Indian Railways closer to achieving the goal of 100 per cent electrification within the current fiscal year.
Safety remained a top priority, with an investment of Rs 11,800 crore made under the Rashtriya Rail Sanrakhsa Kosh for various safety-related projects.
In recognition of the need for renewing ageing assets, the government provided Rs 10,000 crore, and Indian Railways contributed Rs 1,800 crore from its internal resources for the upgrade of depreciated assets.
A total investment of Rs 25,913 crore was allocated to strengthen tracks, bridges, grade separators, and other safety-related infrastructure.
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