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Indian Railways’ Fiscal Year 2023-24 Achievements: Indian Railways, the lifeline of the nation’s transportation network, is poised to mark a historic achievement in its freight business and revenue generation in the fiscal year 2023-24. Preliminary data reveals remarkable progress, indicating the potential for record-breaking performance across multiple metrics.
As of March 15, 2024, Indian Railways has surpassed a significant milestone by achieving an originating freight loading of 1500 million tonnes (MT). This accomplishment follows closely on the heels of the previous fiscal year’s record-breaking freight loading of 1512 MT in FY 2022-23, demonstrating a sustained upward trajectory in the transportation of goods via rail.
Furthermore, the total revenue generated by Indian Railways in FY 2023-24 stands at an impressive Rs 2.40 lakh crores, showcasing robust growth compared to the same period last year. Notably, this represents a substantial increase of Rs 17,000 crores from the revenue generated on March 15 of the previous fiscal year, underlining the railways’ expanding financial prowess.
Despite the substantial revenue growth, Indian Railways has maintained fiscal discipline, with total expenditure amounting to Rs 2.26 lakh crores in the current financial year. This prudent management ensures the sustainability of operations while facilitating continued investment in infrastructure and services.
In addition to its freight business and revenue performance, Indian Railways has also made significant strides in passenger transportation. The total number of passengers traveling in FY 2023-24 has reached 648 crores, marking a noteworthy increase of 52 crores compared to the corresponding period in the previous year, underscoring the enduring popularity and accessibility of rail travel.
A key indicator of Indian Railways’ commitment to infrastructure development is the remarkable progress in track laying during FY 2023-24. With the laying of 5100 kilometers of new tracks, the railways have achieved an average daily track laying rate exceeding 14 kilometers, facilitating enhanced connectivity and operational efficiency.
The collective achievements of Indian Railways in FY 2023-24 reflect its unwavering dedication to excellence and innovation in serving the nation’s transportation needs. With its continued focus on enhancing efficiency, expanding capacity, and fostering sustainable growth, Indian Railways is poised to further strengthen its position as a cornerstone of India’s economic development and social cohesion.
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