New Delhi, Mar 17 (PTI) Indian Railways’ financials are in good situation with steady enchancment efforts underway, Railways Minister Ashwini Vaishnaw knowledgeable the Rajya Sabha on Monday.
Throughout a debate on the working of the Railways Ministry, Vaishnaw famous that the nationwide transporter has efficiently overcome pandemic-related challenges, with passengers returning to coach journey and each passenger and cargo site visitors exhibiting progress.
Throughout 2023-24, Indian Railways reported a income of roughly ₹2,78,000 crore towards bills of ₹2,75,000 crore. Main expenditure elements embrace workers prices ( ₹1,16,000 crore), pension funds ( ₹66,000 crore), vitality bills ( ₹32,000 crore), and financing prices ( ₹25,000 crore).
“Railways is fulfilling its bills from its personal revenue due to good efficiency. …General, the financial situation is sweet and we try to enhance it on fixed foundation,” Vaishnaw acknowledged.
The minister highlighted that Railways subsidises passenger fares whereas producing income from cargo and freight operations.
Whereas the precise value per kilometer stands at ₹1.38, passengers are charged solely 72 paise, ensuing in a complete passenger subsidy of roughly ₹57,000 crore for 2023-24.
Vaishnaw emphasised that Indian prepare fares stay the bottom in comparison with neighbouring nations.
“For those who take a look at a journey of 350 km, ₹121 is the fare of normal class in India, ₹400 in Pakistan, ₹413 in Sri Lanka. This is similar in nearly all classes,” he famous, including that fares have remained unchanged since 2020.
Vitality prices have “stabilized” at ₹30,000-32,000 crore, with the railways financially benefiting from electrification initiatives applied after 2019.
The minister additionally outlined a number of achievements, together with elevated passenger and cargo site visitors.
By March 31 this 12 months, Indian Railways is projected to rank among the many world’s prime three nations in cargo carrying capability at 1.6 billion tonnes, behind solely China and the USA.
Different notable accomplishments embrace substitute of about 50,000 km of tracks, development of greater than 12,000 underpasses and flyovers, rebuilding of 14,000 bridges, and manufacturing of 41,000 Linke-Hofmann-Busch coaches (LHC).
“Within the third time period, Integral Coach Manufacturing facility (ICF) coaches shall be changed with LHC coaches,” Vaishnaw added.
The minister introduced that roughly 1,400 locomotives shall be manufactured this 12 months, and famous that India has begun exporting metro coaches.
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