Indian Railways Registers Record Revenue Of Rs 2.40 Lakh Crore For FY 2022-23

In a record revenue collection, Indian Railways has earned Rs 2.40 lakh crore for the financial year 2022-23, a growth of 25 per cent than the previous fiscal.

The FY 2022-23 earning is Rs 49,000 crore more than the fiscal 2021-22 reflecting a robust growth in rail sector in the post-Covid period.

During this financial year 2022-23, freight revenue too has leapfrogged to Rs.1.62 lakh crore, a growth of nearly 15 per cent on previous year. 

Indian Railways’ passenger revenues have registered an all-time high growth of 61 per cent to reach Rs.63,300 crore.

According to the Railways, after three years, the national transporter is able to fully meet the pension expenditures, an achievement in the fiscal management.

Buoyancy in revenues and tight expenditure management have helped in achieving an operating ratio of 98.14 per cent, well within the revised estimate target.

After meeting all revenue expenditure, the Railways generated Rs 3,200 crore for capital investment from its internal resources with Rs 700 crore for Depreciation Reserve Fund, Rs 1,000 crore for Development Fund and Rs 1,516.72 crore for Rashtriya Rail Sanrakhsa Kosh.

In terms of traffic revenue, Indian Railways earned Rs 63,300 crore as passenger earning in 2022-23 as compared to Rs 39,214 crore in 2021-22 which is 61 per cent higher than the last financial year.

Indian Railways earned Rs 5,951 crore as other coaching revenue in 2022-23 as compared to Rs 4,899 crore during 2021-22 which is 21 per cent higher than the last financial year, sundries revenue stood at Rs 8,440 crore during FY 22-23 as compared to Rs 6,067 crore in 2021-22 which is 39 per cent higher than the last year.

During 2022-23, gross revenue stood at Rs 239,803 crore compared to Rs 191,278 crore in 2021-22. Also, Gross Traffic Receipts stood at Rs 239,750 crore as compared to Rs 191,206 crore in 2021-22.

Total expenditure during 2022-23 is Rs 237,375 crore as compared to Rs 206,391 crore in 2021-22. Operating ratio during FY 22-23 is 98.14 per cent.

Rs 1 lakh crore was invested in augmenting the capacity of the network. FY23 saw the highest ever commissioning of New lines and Doubling/Multi-tracking etc of 5,243 km.

In 2022-23, 6,565 km of track were electrified with investment of Rs 6,657 crore, propelling the Railways towards achieving the goal of 100 per cent electrification in the current fiscal.

Railways are focused on providing safety with the highest priority. An investment of Rs 11,800 crore under Rashtriya Rail Sanraksha Kosh was made during FY23 for various safety works. 

Government while appreciating the need for renewal of ageing assets, has provided Rs 10,000 crore, and Railways also contributed Rs 1,800 crore from internal resources for upgradation of depreciated assets.

Total investment of Rs 25,913 crore was made towards safety in strengthening Tracks, Bridges, Grade separators etc.

The higher investments in Dedicated Freight Corridors (DFC) and Mumbai-Ahmedabad bullet train project has ensured rapid progress in these projects. National High-Speed Rail Corporation Limited (NHSRCL) was provided Rs 12,000 crore and Dedicated Freight Corridor Corporation of India Limited (DFCCIL) Rs 14,900 crore.

While Vande Bharat service is being proliferated on the system, wagon procurement has jumped by 77.6 per cent per cent over previous year to 22,747 wagons.

Modern Rolling stock of Rs 44,291 crore was procured for better passenger comfort and for augmenting Railways loading capacity.

During 2022-23, Total gross budgetary support was Rs 159,244 crore as compared to Rs 117,507 crore during 2021-22. Total capital expenditure was Rs 203,983 crore as compared to Rs 190,267 crore in 2021-22.