Railways fail to meet earnings target

Despite attempts to improve its financial health, Railways' earnings have shown a negative trend as against the target in the first five months of the current fiscal.

The total earnings during April-August this year were Rs 48,635.19 crore (Rs 486.35 billion) as against the target of Rs 49,994.28 crore (Rs 499.94 billion), falling short of Rs 1359.09 crore (Rs 13.59 billion), according Railway Ministry data.

The national transporter has registered decline in both freight and passenger earnings during this period.

The earnings from passengers were Rs 12,695.37 crore (Rs 126.95 billion) while the target was Rs 12,979.37 crore (Rs 1,29.79 billion) for this period, a gap of Rs 284 crore (Rs 2.84 billion).

Earnings from transportation of goods has also witnessed negative growth during April-August period.

While the target for this period was fixed at Rs 34,848.64 crore (Rs 3,48.48 billion), railways could earn Rs 33,640.86 crore (Rs 336.4 billion), falling short of Rs 1207.78 crore (Rs 12.07 billion).

Railways carried 404.24 million tonnes during this period as against the target of 408.86

MT.

In August also, railways failed to achieve the target in goods loadings and passenger earnings.

The total earnings were Rs 9298.92 crore (Rs 92.98 billion) as against the target of Rs 9843.54 crore (Rs 98.43 billion), a shortfall of Rs 544.62 crore (Rs 5.44 billion).

It earned Rs 6196.32 crore (Rs 61.96 billion) from freight as against the target of Rs 6740.12 crore (Rs 67.4 billion), a decrease of Rs 543.80 crore (Rs 5.43 billion) in August.

The national transporter carried only 78.13 MT of goods while the target was 80.89 MT.

In passenger segment also, the earnings had shown decline.

It had earned Rs 2567.22 crore (Rs 25.67 billion) as against Rs 2697.91 crore (Rs 26.97 billion) target.