Railways achieves record revenues, freight loading in FY 2023-24 | India News

NEW DELHI: The railways earned around Rs 2.56 lakh crore in 2023-24 from freight and passenger movement, which is its highest-ever revenue earnings, railway minister Ashwini Vaishnaw on Monday in a social media post. Its earnings totalled Rs 2.4 lakh crore in the previous year.
The railways recorded its highest-ever freight loading of 1,591 million tonnes (MTs) in 2023-24, almost 5% more than the previous financial year.The earlier maximum loading of cargo was 1,512 MT in FY 2022-23. Data show that FY 24 freight loading surpassed the revised estimate of 1,80 MTs.
Sources said in the financial year ended March 31, the railways achieved loading of 787.6 MT of coal, 181 MT of iron ore, 154 MT of cement and 114.4 MT among others. “We have done better than the revised target and hope to repeat in 2024-25 as well,” said a source.
Govt has estimated 1,650 MT freight loading during the current financial year. Revenue from freight movement is the mainstay of railways finances, which helps it for cross-subsidisation of passenger fare.
Officials said that rail electrification, laying of new lines and track replacement also set new records during the last fiscal. The electrification of railway lines touched a total of 7,188 km, which translates to 14.5 km per day. During the previous financial year, 6,565 kms were electrified and since 2014-15, the railways has completed electrification of about 40,000 km on the broad gauge (BG) network.
Sources said the railways also achieved 5,300 km of laying new lines, doubling and gauge conversion compared to 5,241 km during 2022-23.
“Thus average daily track laying comes out to be 14.5 km per day. It is also the highest ever commissioning of railway lines. These capacity augmentation will help railway to transport more freight and passengers in future,” said an official.

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