Railways earns ₹1,91,162 crore revenue in FY23 so far
1 min read . Updated: 20 Jan 2023, 08:47 PM IST
PremiumTotal revenue from traffic for FY23 is estimated at ₹2.4 trillion, an annual increase of 19% over FY22 revised estimates
Ahead of the Union Budget, the Railways on Thursday crossed its last fiscal’s revenue figures, with 71 days to go before this financial year.
This year till 19 January, at a total revenue of ₹1,91,128 crore, the revenue earned from passenger and freight segments is around ₹42,370 crore more than what it was by this time last fiscal, Railways Minister Ashwini Vaishnaw posted on Twitter Friday.
Total revenue from traffic for FY23 is estimated at ₹2.4 trillion, an annual increase of 19% over FY22 revised estimates. In FY23, revenue from both freight and passenger traffic is also expected to grow at an annual rate of 14% and 32% over FY22 revised estimates.
According to the data, the total approximate earnings in passenger segment for Indian Railways on originating basis during April to December 2022 is Rs. 48,913 crore, registering an increase of 71 per cent in comparison to Rs. 28,569 crore achieved during the same period last year.
Also, the revenue generated from the reserved passenger segment during this fiscal year so far has increased by 56%. The figure stood at ₹38,483 crore, as compared to ₹26,400 crore during the same period last year.
The revenue generated from the unreserved passenger segment between April 1 and December 31 is ₹10,430 crore as compared to ₹2,169 crore during the same period last year, showing an increase of 381%, the statement read.
The Ministry of Railways said in a release that on cumulative basis from April – December this year, freight loading of 1109.38 MT was achieved against last year loading of 1029.96 MT during the same period, an improvement of 8%.
The FY24 rail budget is expected to take measures to augment resources while curbing non-essential expenditure. Accordingly, 100% electrification of the broad gauge line is expected to be completed in FY24, which could reduce the railways’ fuel bill by almost ₹10,000 crore. Also, the focus will be on increasing the share of non-fare revenue sources in railways’ total revenue. This could be done through increased asset monetization, especially on the yet-to-be-operational dedicated freight corridor and also the sale and commercialization of railway land at key destinations.
