Indian Railways registers Highest Freight figures in terms of loading and earnings in the FY2020-21
Despite the COVID-19 challenges, Indian Railways closed the FY 2020-21 with record freight loading.
In the closing month of this fiscal year 2020-21, Indian Railways surpassed the last year’s loading that is 1232.63 compared to last year’s 1209.32 which shows the growth of 1.93%.
In this period, Indian Railways earned Rs. 117386.0 crores (US4 15.99 billion) from freight loading. It is 3% higher than the last year’s earning from Freight which was Rs. 113897.20 Crores (US$ 15.51 billion) for the same period.
Indian Railways has maintained the momentum of highest ever loading in consecutive 07 respective months from September, 2020 to March, 2021.
On mission mode, Indian Railways' Freight loading for the month of March 2021 crossed last year’s loading and earnings for the same period.
In the month of March 2021, Indian Railways loading was 130.38 million tonnes which is 27.33% higher compare to last year’s loading for the same period (103.05 million tonnes). Indian Railways loading was 130.38 million tonnes which includes 58.57 million tonnes of coal, 16.78 million tonnes of iron ore, 3.67 million tonnes of foodgrains, 2.57 million tonnes of fertilizers, 3.97 million tonnes of mineral oil and 9.56 million tonnes of cement (excluding clinker). In March, 2021, Indian Railways earned Rs. 12887.71 Crores (US$ 1.76 billion) from freight loading which is also 26.16% higher compared to last year’s earnings for the same month (Rs. 10215.08 crores (US$ 1.39 billion)).
It is worth mentioning that a number of concessions/ discounts are also being given in Indian Railways to make Railways Freight movement very attractive.
It may be noted that Freight trains’ speed has also registered significant increase in the existing network. Average speed for the freight trains in March 2021 was registered as 45.6 Km/hr which is 83% increase as compared to 24.93Km/hr in the same period.
Also, improvements in freight movements will be institutionalized and incorporated in the upcoming zero based time table.
COVID-19 has been used by Indian Railways an opportunity to improve all round efficiencies and performances.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.