The Indian railway system is regarded as the foundation and lifeblood of the economy. Indian railways span thousands of kilometers practically covering the entire nation, making it the fourth largest in the world after the US, China, and Russia. The Railways Board, which has a monopoly over the provision of rail services in India, oversees overseeing the whole infrastructure. Due to its low cost and effective operations, railways continue to be the most popular means of transportation for most Indians when travelling long distances.
India’s railway network is recognized as one of the largest railway systems in the world under single management. The railway network is also ideal for long-distance travel and movement of bulk commodities, apart from being an energy-efficient and economic mode of conveyance and transport. Indian Railways is the preferred carrier of automobiles in the country.
In FY 2022-23, Indian Railways achieved 1,512 MT of freight, 94 MT more than the previous best of 1,418 MT in FY 2021-22, showing 7% growth, also generated revenue of US$ 19.28 billion (Rs. 1,60,158 crore) from freight services.
In FY 2023-24, Indian Railways loaded 1,434.03 MT of freight from April to February, an increase of about 66.51 MT and Revenue rose by approximately US$ 778 million (Rs. 6,468 crore) compared to the same period last year.
Since August 2020, the Indian Railways has run 450 Kisan Rail services and was able to transport over 1.45 lakh tonnes of agricultural produce & perishables RailTel, a PSU under the Railway Ministry, which provides fast and free Wi-Fi across the stations.
In 2022-23, Railways Indian railways earned 69% of its internal revenue from freight and 24% from passenger traffic. The remaining 7% was earned from other miscellaneous sources such as parcel service, coaching receipts, and sale of platform tickets.
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