Indian Railways Achieves Record Freight Loading and Revenue in Fiscal Year 2023-24

In a significant feat highlighting the prowess of India’s railway sector, Indian Railways has recorded remarkable progress in freight loading and revenue generation during the fiscal year 2023-24, showcasing a substantial improvement over the previous year’s performance. Cumulatively from April 2023 to February 2024, Indian Railways achieved a freight loading of 1434.01 million tonnes (MT), as compared to 1367.5 MT in the same period last year, marking an impressive increase of approximately 66.51 MT.

Moreover, the earnings of Indian Railways have also witnessed a commendable surge, with revenues reaching INR 1,55,557.1 Crore during this period, as opposed to INR 1,49,088.1 Crore in the corresponding period of the previous fiscal year, depicting a notable growth of approximately Rs 6468.17 Crore.

The month of February 2024 particularly stood out as Indian Railways accomplished an originating freight loading of 136.60 MT, in contrast to 124.03 MT recorded in February 2023, reflecting a significant improvement of approximately 10.13% year-on-year. Additionally, freight revenue for February 2024 amounted to INR 14,931.89 Crores, showcasing a robust increase of about 8.98% compared to the earnings of INR 13,700.75 Crores in February 2023.

The diverse range of commodities transported by Indian Railways during February 2024 further underscores its pivotal role in facilitating the nation’s economic activities. Noteworthy contributions include 59.08 MT in Coal, 15.11 MT in Iron Ore, 5.69 MT in Pig Iron and Finished Steel, 7.59 MT in Cement (Excluding Clinker), 5.45 MT in Clinker, 5.10 MT in Food grains, 3.962 MT in Fertilizers, 4.06 MT in Mineral Oil, 7.00 MT in Containers, and 10.66 MT in various other goods.

The success story of Indian Railways in enhancing freight movement can be attributed to its strategic initiatives and customer-centric approach. Embracing the mantra of ‘Hungry For Cargo’, Indian Railways has diligently worked towards streamlining operations, enhancing service delivery, and ensuring competitive pricing.

The achievements of Indian Railways in bolstering freight movement not only signify its operational excellence but also underscore its indispensable role in driving India’s economic growth. With a steadfast commitment to innovation and efficiency, Indian Railways continues to be the backbone of the nation’s logistics network, facilitating seamless connectivity and fostering economic prosperity across the country.

Leave a Reply

Your email address will not be published. Required fields are marked *

LATEST NEWS