Indian Economy News

Indian Railways achieves 758.20 MT freight loading in the first two quarters of 2023

From April to September 2023, a total freight loading of 758.20 million tonnes (MT) was obtained, compared to a loading of 736.68 MT the previous year, representing a rise of around 21.52 MT. Railways earned Rs. 81,697 crore (US$ 9.81 billion) compared to Rs. 78,991 crore (US$ 9.49 billion) in the previous year, an increase of around Rs. 2,706 crore (US$ 235.23 million) over the same period last year.

During the month of September 2023, originating freight loading of 123.53 MT was accomplished compared to 115.80 MT in September 2022, representing an increase of approximately 6.67% over the previous year. In September 2023, freight revenue of Rs. 12,956.95 crore (US$ 1.55 billion) was achieved compared to Rs. 12,332.70 crore (US$ 1.48 billion) in September 2022, representing an increase of around 5.06% over the previous year.

During September 2023, IR loaded 59.70 MT of coal, 14.29 MT of iron ore, 5.78 MT of pig iron and finished steel, 6.25 MT of cement (excluding clinker), 4.89 MT of clinker, 4.54 MT of foodgrains, 4.23 MT of fertiliser, 4.0 MT of mineral oil, 7.28 MT of containers, and 10.10 MT of rest of all other goods.

Following the mantra "Hungry for Cargo," IR has made consistent efforts to increase the ease of doing business as well as the supply of services at affordable costs. The customer-centric strategy and efforts of Business Development Units, along with rapid policymaking, aided Railways in reaching this critical milestone.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.