Indian Railways Set to Earn Rs 1.5 Lakh Crore Revenue This Fiscal, Freight Earnings Surpass Rs 1 Lakh Crore

The Indian Railways is poised to surpass its revenue target of Rs 1.5 lakh crore, buoyed by achieving the significant milestone of earning Rs 1 lakh crore from freight services. While the overall revenues have seen a 6.5% increase in the current fiscal year, they fall slightly short of the annual growth target of over 9% set for 2023-24. Despite this, railway officials express optimism about achieving the annual target, anticipating a post-monsoon surge in economic activity leading to increased goods loading.

Up to October 13 in the current financial year, passenger revenue reached Rs 43,101 crore. The introduction of trains like Vande Bharat has contributed to a 7% increase in earnings from reserved passengers, totaling Rs 31,875 crore. However, a 4.7% decrease in the number of passengers, amounting to 47.4 crore, suggests an increase in revenue per passenger.

Earnings from the unreserved category have also experienced positive growth, reaching Rs 11,326 crore, reflecting a 3.8% increase. The number of passengers in this category has risen by 12%, totaling 366 crore.

Railway data indicates that freight loading has increased by 3.7% to 940 million tonnes (MT) in the current fiscal year up to October 14. Coal, a significant contributor to revenue, has seen a 3.3% increase, generating nearly Rs 51,000 crore, with its loading rising by 5.5% to 463 million tonnes.

Confident in the sustained growth of goods loading and positive economic indicators, railway authorities believe that the annual revenue target will be met.