At the end of the financial of 2016-17, the Indian Railways has achieved all-time high revenue of Rs 1.68 lakh crore powered by its focus on boosting freight traffic and innovative steps. It loaded 1.107 billion tonnes of freight during the fiscal, surpassing its target of 1.094 billion tonnes.
This has happened due to key interventions by the Railway Ministry which helped to get it on to the fast track. This is despite less export traffic, high liability of Pay Commission arrears and bonus payments, etc.
The freight revenue is estimated at Rs 1.09 lakh crore against Rs 1.04 lakh crore in 2015-16. Despite the most challenging environment, the Indian Railways has done very well. Various policy interventions at times could foresee a slump in demand were taken, which were pivotal in bringing back the traffic. The Ministry has taken steps on additional discount on loading of some commodities, giving benefit on various usage charges on freight.
To achieve this record, the Indian Railways put in place the necessary infrastructure. Availability of rakes and demand from various commodities including various freight reforms have created a major impact for this remarkable achievement of freight loading. Iron ore loading and transportation to steel plants increased from 117 MT in 2015-16 to 137 MT in 2016-17.
Similarly, after a number of obstructions like less demand of coal both in National & International market, Maoist activities in major freight-loading hubs, landslides and boulder falling on railway track disrupting train movements, labour strike at different loading hubs, the East Coast Railway has surpassed the last fiscal figure and loaded 177.28 MT freight as against 173.49 MT registered in 2015-16 by registering an increase of 2%, which is 3.78 MT more.