Indian Railways freight turnover rises in current fiscal year

Posted by Daily Shipping Times on 06-03-2017        Tweet

NEW DELHI: Indian Railway's non coal freight turnover increased by 23 million tonnes during the first ten months of current fiscal (April 2016 to January 2017) compared to the corresponding period previous year Railway Minister Suresh Prabhu said recently.

The loading in iron ore and steel have shown a massive increase of 16.65 million tonnes and 4.95 million tonnes respectively over last year, loading in raw material for steel plants and Container sector have all surpassed last year's figures.

The achievement was possible due to the implementation of a number of freight sector reforms which have directly or indirectly resulted in logistics cost of rail users getting lowered by 20 to 30 per cent.

The initiatives include elimination of 10 per cent port concession charge, elimination of 15 per cent busy season surcharge for a significant period of the year, reduction in documentation requirement and promotion of Ease of Doing Business.

The railways have taken several initiatives to woo the coal sector including rationalisation of coal tariff, low freight rates for long lead transportation, Merry go round policy, short lead discounts etc.

To ensure that the visible green shoots are nurtured, as many as ten key Customer Managers from the Railway Ministry were appointed by the Indian railways who continue to looking closely at the requirements of customers in each sector and responding quickly to their needs.

The Railway Minister said infusion of capital to the tune of Rs 8.56 lakhs crores has been tied up for Indian railways in 2015-19 of which Rs two lakh crores will be used in network decongestion, Rs One lakh crore in station development and Logistics Parks, Rs One lakh crore on rolling stock, Rs 1.27 lakh crore on safety and 0.65 lakh crore on high speed.