Indian Railways' freight figures buck Covid trend; 15% higher loading than October last

Indian Railways' freight figures continue to 'maintain high momentum' in terms of earning revenues and loading in October 2020 as per a press release issued by the Ministry. It further informed that the freight loading of Indian Railways in the past month has crossed last year's loading as well as early in the same duration. Taking to Twitter, the Ministry of Railways shared the information while adding that the loading was '108.16 million tonnes' which is about 15 percent higher as compared to last year's loading which 93.75 million tonnes for the same duration. 

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Rs. 10405.12 crore revenue

The press release from the Ministry of Railways stated that the earning had also increased by about 9%. Indian Railways earned over Rs. 10405.12 crore from freight loading which is Rs. 898.90 crore higher than last year's earnings which were Rs. 9536.22 crores. 

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In terms of the loading, Indian Railways informed that out of the 108 million tonnes loaded in October, about 47 million tonnes was coal and over 14 million tonnes was iron ore, over 5 million tonnes was foodgrains and about 6 million tonnes included fertilizers and over 5 million tonnes of cement which did not include clinker. 

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Indian Railways is also providing several discounts and concessions to gain more customers for the freight trains amid the COVID-19 pandemic which halted the trains services in the country. Indian Railways will also incorporate the improvements noted in the movement of freight trains in the upcoming zero-based time table. Furthermore, the Railway Minister has conducted a meeting with firms in iron and steel, cement, power, coal, automobiles as well as logistics service providers in an attempt to attract new business while incentivizing the existing clients. 

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"Business Development units at Zonal & Divisional levels and near doubling of freight speed is contributing to sustainable growth momentum in spite of blocked freight services in Punjab. COVID-19 has been used by Indian Railways an opportunity to improve all-round efficiencies and performances," read the press release.

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