New Delhi: Indian Railways (IR) has demonstrated a notable growth in freight loading and revenue during the month of May 2023, showcasing its commitment to efficiency and customer-centric services, said the Ministry of Railways in a statement on Thursday. According to the latest data, the originating freight loading reached 134 million tonnes (MT) in May 2023, surpassing the loading of 131.50 MT in May 2022 by approximately two percent. Additionally, the freight revenue for May 2023 stood at Rs 14,641.83 crore, reflecting a growth of about four percent compared to May 2022's freight earnings of Rs. 14,083.86 crore, the statement added.
On a cumulative basis for the months of April and May 2023, Indian Railways achieved a freight loading of 260.28 MT, showcasing an improvement of around three percent over the same period last year when the loading stood at 253.48 MT, said the statement. The revenue generated during this period also witnessed growth, with Indian Railways earning Rs 28,512.46 crore compared to Rs 27,066.42 crore in the corresponding period of the previous year, marking an approximate five percent increase, it added.
The breakdown of freight loading for May 2023 reveals that the highest loading was recorded in coal at 65.89 MT, followed by iron ore at 15.23 MT, cement at 13.20 MT, balance other goods at 10.96 MT, containers at 6.79 MT, fertiliser at 4.89 MT, food grains at 4.85 MT, and mineral oil at 4.23 MT, said the statement. This diversified performance across various sectors highlights the versatility and efficiency of Indian Railways in catering to different freight requirements, it added.
Indian Railways' success in achieving these growth figures can be attributed to its customer-centric approach and concerted efforts to improve the ease of doing business. The implementation of agile policy-making, combined with the dedicated work of the Business Development Units, has played a crucial role in driving this significant achievement.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)