Throughout 2023-24, Indian Railways reported a income of roughly Rs 2,78,000 crore towards bills of Rs 2,75,000 crore. Main expenditure parts embrace workers prices (Rs 1,16,000 crore), pension funds (Rs 66,000 crore), power bills (Rs 32,000 crore), and financing prices (Rs 25,000 crore).
“Railways is fulfilling its bills from its personal earnings due to good efficiency. …General, the monetary situation is nice and we are attempting to enhance it on fixed foundation,” Vaishnaw said.
The minister highlighted that Railways subsidises passenger fares whereas producing income from cargo and freight operations.
Whereas the precise price per kilometer stands at Rs 1.38, passengers are charged solely 72 paise, leading to a complete passenger subsidy of roughly Rs 57,000 crore for 2023-24.
Vaishnaw emphasised that Indian practice fares stay the bottom in comparison with neighbouring international locations. “If you happen to have a look at a journey of 350 km, Rs 121 is the fare of basic class in India, Rs 400 in Pakistan, Rs 413 in Sri Lanka. This is identical in nearly all classes,” he famous, including that fares have remained unchanged since 2020. Vitality prices have “stabilized” at Rs 30,000-32,000 crore, with the railways financially benefiting from electrification initiatives carried out 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 high three international locations in cargo carrying capability at 1.6 billion tonnes, behind solely China and the US.
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 will probably be changed with LHC coaches,” Vaishnaw added.
The minister introduced that roughly 1,400 locomotives will probably be manufactured this 12 months, and famous that India has begun exporting metro coaches.
