Indian Railways fully meeting pension expenditures, posts 25 pc revenue growth in FY23
Apr 17, 2023
New Delhi [India], April 17 : Indian Railways is able to fully meet the pension expendituress has registere after having registered record revenue figures of Rs. 2.40 Lakh Crore for the Financial Year 2022-23. This is nearly Rs.49,000 Crore more than the previous year, reflecting 25 per cent growth, stated an official release.
"During this financial year 2022-23, Freight revenue too has leapfrogged to Rs.1.62 lakh Crores, a growth of nearly 15 per cent on the previous year. Indian Railways' passenger revenues have registered an all-time high growth of 61 per cent to reach Rs.63,300 Crores," read an official release.
"After three years, Indian Railways is able to fully meet the pension expenditures. Buoyancy in revenues and tight expenditure management have helped in achieving an Operating Ratio of 98.14 per cent, well within the RE target. After meeting all revenue expenditures, Railways generated Rs 3200 Crores for Capital investment from its internal resources (Rs.700 Cr for DRF, Rs. 1000 Cr for DF and Rs 1516.72 Cr for RRSK)," it read.
As per the release, in terms of Traffic revenue, Indian Railways earned Rs 63,300 Cr. as passenger revenue in 2022-23 as compared to Rs 39,214 Cr. in 2021-22 which is 61 per cent higher than the last financial year.
"Indian Railways earned Rs 5951 Cr as other coaching revenue in 2022-23 as compared to Rs 4899 Cr during 2021-22 which is 21 per cent higher than the last financial year, Sundries revenue stood at Rs 8440 Cr during FY 22-23 as compared to Rs 6067 Cr in 2021-22 which is 39% higher than the last year. During 2022-23, Gross revenue stood at Rs 2,39,803 Cr compared to Rs 1,91,278 Cr in 2021-22. Also, Gross Traffic receipts stood at Rs 2,39,750 Cr as compared to Rs 1,91,206 Cr in 2021-22. Total Railway Receipts during 22-23 is Rs 2,39,892 Cr as compared to Rs. 1,91,367 Cr. in 2021-22. Total Railway expenditure during 22-23 is Rs 2,37,375 Cr as compared to Rs 2,06,391 Cr. in 2021-22. The operating ratio during FY 22-23 is 98.14 per cent," it read.
Rs 1 lakh cr was invested in the augmenting capacity of the network. FY23 saw the highest-ever commissioning of New lines and Doubling/Multi-tracking, etc, of 5243 KMs.
6565 KMs of Track were electrified with an investment of Rs 6657 cr, propelling Railways towards achieving the goal of 100 per cent electrification in the current fiscal.
Railways are focused on providing safety highest priority. An investment of Rs 11,800 Cr under Rashtriya Rail Sanrakhsa Kosh was made during FY23 for various safety works. The government while appreciating the need for renewal of ageing assets, has provided Rs 10,000 Cr, and Railways also contributed Rs 1800 Cr from internal resources for the upgradation of depreciated assets.
A total investment of Rs 25,913 Cr was made towards safety in strengthening Tracks, Bridges, Grade separators etc.
The higher investments in DFC and Mumbai-Ahmedabad bullet train projects have ensured rapid progress in these projects. NHRSCL was provided Rs. 12,000 Crore and DFCCIL Rs 14900 Crore.
Vande Bharat is being proliferated on the system. Wagon procurement jumped by 77.6 per cent over the previous year to 22,747 wagons. Modern Rolling stock of Rs 44,291 Cr was procured for better passenger comfort and for augmenting Railways' loading capacity.
During 2022-23, Total GBS was Rs 1,59,244 Crore as compared to Rs 1,17,507 Crore during 21-22. Total capex was Rs 2,03,983 Crore as compared to Rs 1,90,267 Crore in 2021-22.
