Indian Railways’ Financial Condition is Good: Union Railway Minister
Union Minister for Railways, Shri Ashwini Vaishnaw, emphasized Indian Railways’ achievements and future plans during a discussion in the Rajya Sabha. He stated that Indian Railways is ensuring safe and quality services at affordable fares, while also gaining recognition globally.
He highlighted that railway fares in India are lower than in neighboring countries like Pakistan, Bangladesh, and Sri Lanka, and significantly cheaper than in Western nations, where fares are 10 to 20 times higher.
Discussing subsidies, he revealed that the actual cost per kilometer of travel is ₹1.38, but passengers are charged only 73 paise, meaning the government provides a 47% subsidy. In FY 2022-23, passenger subsidies amounted to ₹57,000 crore, which increased to ₹60,000 crore (provisional) in FY 2023-24. The goal remains to provide safe and enhanced services at minimal fares.
Highlighting the benefits of railway electrification, the Union Minister said that despite the increasing number of passengers and freight transport, energy costs have remained stable. Indian Railways is working on the target of achieving ‘Scope 1 Net Zero’ by 2025 and ‘Scope 2 Net Zero’ by 2030. He informed that the export of locomotives manufactured at the Madhepura factory in Bihar will soon begin. Currently, Indian Railways’ passenger coaches are being exported to Mozambique, Bangladesh, and Sri Lanka, while locomotives are being sent to Mozambique, Senegal, Sri Lanka, Myanmar, and Bangladesh. Apart from this, bogie underframes are being exported to the United Kingdom, Saudi Arabia, France, and Australia, while propulsion parts are being sent to France, Mexico, Germany, Spain, Romania, and Italy.
This year, 1,400 locomotives have been produced in India, which is more than the combined production of America and Europe. Along with this, 2 lakh new wagons have been added to the fleet. The Minister stated that in the financial year ending March 31, Indian Railways will transport 1.6 billion tons of cargo, making India one of the top three countries in the world, including China and America. This reflects the increasing capacity of the railway and its significant role in the logistics sector.
