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Indian railways posts highest ever passenger earnings in 2017-18

Photo: ReutersIndian railways has posted its highest ever passenger earnings for the financial year 2017-18, recording a 4.2 per cent increase from Rs 470 billion during the previous financial year to Rs 490 billion.In the last two years, railways was successful in bucking the trend of the drop in number of passengers thereby posting a 0.82 per cent increase in total passengers in 2017-18 compared to the previous year. This is compared to a rise of 1 per cent in 2016-17 and a drop in number of passengers in 2015-16 by 3 per cent, 2014-15 by 2.5 per cent and 2013-14 by 3 per cent.Despite facing the heat on the system of flexi fare in premium trains, figures show that the number of tickets booked through passenger reservation system (PRS) has increased by 6.5 per cent to 556 million compared to last year. “We have got additional revenue of around Rs 8.6 billion on flexi fare. Moreover, there was a considerable increase of 19.35 per cent on revenue from ticket checking too,” said Mohammed Jamshed, member traffic of Railway Board.Meanwhile, during the financial year, railways loaded 1,161.66 million tonne freight, up 4.7 per cent from 1,108.79 million tonne last year. The year saw highest evet loading of coal at 555 MT and is expected to increase by another 20 MT in 2018-19 on rising demand from power sector. The originating freight earnings for the fiscal under review has seen an 8.09 per cent to Rs 84.61 billiom over the last year. The average number of container rakes loaded per day has increased from 103.4 rakes in 2016-17 to 116 rakes in 2017-18.For 2018-19, the railways is set to invest around Rs 318 billion on rolling stock — which includes diesel and electric locomotives, wagons and passenger coaches. The national transporter is set to come out with a bulk tender for 38,000 wagons in a month’s time.
Source: Business Standard