Railway Board Chairman and CEO VK Yadav said on Friday that Indian Railways’ revenue from passenger segment is down 87% compared to last year due to suspension of regular passenger trains. The national carrier’s passenger revenue fell from ₹ 53,000 crore in the previous year to just ₹ 4,600 crore this year.
Yadav also said that according to the ministry’s estimate, revenue is expected to go up to ₹ 15,000 crore by March 2021, adding that freight revenue is expected to outstrip last year’s revenue. “It is not possible to give a fixed date to resume normal train services. The general manager has been in discussions with the state and we will resume services as we move forward. Even now the situation is not normal. So far, our income from passenger revenue is ₹ 4,600 crore and by the end of the year, our total revenue from the passenger segment will be estimated at ₹ 15,000 crore. Our earnings from this segment in the last financial year. 53,000 crores. Yadav said, this is 87% lower than our earnings last year.
He also said that the average occupancy in trains currently running is around 30% to 40%, indicating that there is still an epidemic fear. Railways currently operates only 1,089 special train services. Regular trains have been suspended since March 25, as the first lockdown was imposed to prevent the spread of Kovid 19.
Railways on Friday set a target to increase their stake in freight traffic from 2730 to 2030 through better infrastructure and commercial development schemes as per the draft National Rail Scheme. “Under the plan, we plan to increase our share of freight from the current 27 percent to 45 percent by 2030,” he said.
“Vision 2024 is a subset of the National Rail Scheme. The objective is to reduce transit time as well as transit costs for our customers. We plan to rationalize freight, reduce freight charges gradually, so that we can reduce costs, increase revenue, ”he said.
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