In a positive turn of events, Indian Railways reported a record income of 2.40 lakh crore in the fiscal year 2022–23, an increase of about 49,000 crore from the prior year.
The freight income increased to 1.62 lakh crore in 2022–23, an increase of over 15% from the prior year.
Read on to find out all the details!
Indian Railways’ Revenue Increased by 61%
Indian Railways’ passenger revenue increased by a record-breaking 61% to reach 63,300 crore.
The Finance Ministry has received requests from the railways over the years to help with some of its pension costs.
According to the announcement, the railroads made 63,300 crores in traffic revenue in 2022–23 as opposed to 39,214 crores in 2021–22.
The announcement states, “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 expenditure, railways generated ₹ 3,200 crore for capital investment from its internal resources.”
In 2022–2023, the railroads made $5,951 crore more in revenue from another coaching than they did in 2021–2022 ($4,899 billion). Sundries revenue increased from 6,067 crore in FY 2021–22 to 8,440 crore in FY 2022–23.
Gross Revenue in 2022-23 was 2,39,803 Crores
The gross revenue in 2022–23 was 2,39,803 crores as opposed to 1,91,278 crores in 2021–22.
Additionally, gross traffic receipts were 2.39.750 billion rupees as opposed to 1.91.206 billion rupees in 2021–2022.
In 2022–2023, there were 2,39,892 crores in total railway receipts as opposed to 1,91,367 crores the year before.
In 2021–2022, there were 2,06,391 crore spent on railroads; in 2022–2023 there were 2,37,375 crore spent on railroads. In 2022–2023, the operating ratio was 98.14%.
When comparing capital expenditures, the capital invested in 2022–23 was $1,09,004 crore, up from $81,664 crore in 2021–22. In 2022–2023, 30,001 crores were spent from the railway safety fund, compared to 11,105 crores in 2021–2022 budget year.
