Railways earnings jump 28%, set to cross budget target in weeks | India News

NEW DELHI: Railways has seen a 28% jump in freight and passenger revenue, which was increased to Rs 1.9 lakh crore during the financial year up to January 18, compared to a little under Rs 1.3 lakh crore during the corresponding period last year as coal, cement and chemicals helped the state-run transporter boost its earnings.
Higher demand for freight movement has prompted the railways to add around 2,000 wagons every month. With 81% of the budget target of Rs 2.3 lakh crore of its budgeted earnings for the current fiscal year, railways is on course to achieve the full-year target in the next few weeks, although it may be revised upwards when the budget is presented on February 1.
Passenger revenue, estimated at Rs 52,000 crore during the fiscal year up to January 18, is at a record level, higher than Rs 51,000 crore earned during 2018-19, official data showed. During the fiscal year up to January 18, freight earnings had increased 15.6% to Rs 1.3 lakh crore.
Official sources said there is a massive jump in loading in several segments. For instance, there are around 530 rakes of coal that are currently being loaded across the country, compared with around 465 rakes a year ago. In case of iron ore, the loadings are up from around 108 rakes a day to 117 now.

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