Indian Railways makes Rs 13,578 crores in freight earnings in July 2023, a 3 pc increase from last year

File Photo/PTI

Indian Railways (IR) has achieved a remarkable feat by crossing the milestone of 500 MT freight loading on a cumulative basis in the first four months of the current Financial Year (FY) 2023-24. From April to July 2023, the total freight loading reached 507.7 MT, showing an improvement of 1.23% compared to the same period last year, which recorded a loading of 501.55 MT.

Additionally, the Railways earned Rs 55,459 crore from freight loading during this period, displaying a growth of 3.22% in comparison to the corresponding months of the previous year when they earned Rs 53,731 crore.

On a cumulative basis from April to July 2023, Indian Railways' total earnings, including coaching, goods, sundry, and other coaching earnings, reached approximately Rs. 80,869 crore. This figure indicates a substantial growth of 6.62% in comparison to the earnings of Rs. 75,847 crores in the same period of the last financial year.

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In July 2023 alone, Indian Railways achieved an originating freight loading of 123.98 MT, which was an improvement of approximately 1.5% from the freight loading of 122.15 MT in July 2022. The freight revenue earned in July 2023 amounted to Rs. 13,578 crore, demonstrating a commendable 3% increase from the freight earnings of Rs. 13,163 crore in July 2022.

The success of Indian Railways in surpassing the 500 MT freight loading mark can be attributed to their customer-centric approach and focused efforts to enhance ease of doing business and improve service delivery at competitive prices.

The effective work of Business Development Units, combined with agile policy-making, has played a significant role in this remarkable achievement, aligning with their mantra of being "Hungry For Cargo."