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New Delhi: Freight earnings of the Railways increased by 16% till November of this fiscal year compared to the same period last year, the national transporter said on Thursday.

Railways earned 1,05,905 crore this year in the first eight months of fiscal year 2022-23, up from 91,127 crore last year.

From April to November, a total freight loading of 978.72 mt was achieved, compared to 903.16 mt last year, representing an 8% increase over last year’s loading.

Railway freight loading has surpassed last year’s loading and earnings for the first eight months of fiscal year 2022-23, it said.

During November 2022, originating freight loading of 123.9 mt was achieved, compared to 116.96 mt in November 2021, representing a 5% increase.

Furthermore, freight revenue of 13,560 crore was achieved, compared to 12,206 crore in November 2021, representing an 11% increase.

“Following the introduction of the scheme, ‘Hungry For Cargo’, IR has made sustained efforts to improve the ease of doing business as well as improve the service delivery at competitive prices which has resulted in new traffic coming to railways from both conventional and non-conventional commodity streams," the Railways said.

“The customer centric approach and work of Business Development Units backed up by agile policy making helped Railways towards this landmark achievement," it said.

Since the onset of Covid, railways augmented its freight volumes due to lower track congestion. At the peak of Covid-19 in April 2020, railways had ferried 1,209 mt of goods.

Having hit 1,400 mt in the last financial year, the national transporter plans to reach 2,000 mt by 2023-24.

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