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The Indian Railways has reported achievements in fund utilization and freight loading over the last five months. These milestones not only underscore Indian Railways' dedication to passenger safety but also highlight its vital role in propelling India's economic development.
Record-Breaking Fund Utilization: A 54% Surge
The Ministry of Railways has revealed that Indian Railways has experienced a remarkable 54% increase in fund utilization over the past five months compared to the same period in the previous year. These funds have been meticulously allocated to bolster safety measures and drive infrastructure projects.
The Ministry announced that the first five months of the fiscal year up to August 2023 had witnessed a historic high in capital expenditure utilization, reaching approximately 48%. This substantial investment reflects Indian Railways' unwavering commitment to modernization and infrastructure improvement.
Emphasizing passenger safety, Indian Railways has made substantial investments in safety-related initiatives. Capital expenditure utilization for these endeavors has surged by about 54% compared to the same period last year, reinforcing the railway's commitment to providing secure travel experiences.
Impressive Revenue Milestone: Rs 1 Lakh Crore
During this period, Indian Railways generated an impressive revenue of Rs 1 lakh crore, comprising earnings from the freight segment, passenger services, and various miscellaneous sources. This revenue milestone underscores the significance of Indian Railways in the nation's economic landscape.
In the realm of freight loading, Indian Railways achieved noteworthy success. From April 1, 2023, to August 31, 2023, it accomplished a loading of 634.66 million metric tons (MT), surpassing the previous year's corresponding period of 620.88 MT.
Key Freight Categories Show Growth
Breaking down the freight categories:
Iron Ore: Loading reached an impressive 70.84 MT, marking a substantial growth of 15.56% compared to the previous year.
Pig Iron and Finished Steel: Loading stood at 28.42 MT, reflecting an 8.63% increase.
Fertilizers: Loading reached 24.13 MT, showcasing an 8.45% growth.
Cement: Loading amounted to 63.29 MT, with a commendable growth rate of 6.48%.
Container Services: Indian Railways loaded 34.31 MT, achieving a commendable 5.22% growth.
Petroleum, Oil, and Lubricant (POL): Loading amounted to 20.59 MT, a 3.41% increase.
Coal: An impressive 311.53 MT of coal was loaded, surpassing the previous year's 305.39 MT.
Automobile Transportation and Earnings Surge
Indian Railways experienced a remarkable 26% growth in automobile transportation by rail, accompanied by earnings from the automobile sector surging by 24.5%.
A Driving Force for the Nation's Progress
In August 2023, Indian Railways loaded 126.95 MT of freight, compared to 119.33 MT in August 2022, achieving a substantial growth rate of 6.38%.
These achievements underscore Indian Railways' unwavering commitment to efficient fund utilization, safety enhancements, and fostering growth in critical sectors of the economy. Indian Railways continues to be a pivotal driver of India's economic progress, connecting industries, businesses, and passengers nationwide. With an emphasis on safety and modernization, Indian Railways is poised to play an even more significant role in shaping India's future economic landscape.