A multi-pronged fightback by Indian Railways during the COVID-19 pandemic has brought results. Cumulative freight revenues have crossed FY 2019-20 figures for the first time in FY 2020-21.
The COVID-19 pandemic had caused massive disruptions to Indian Railways operations and the Indian economy.
IR has reported cumulative revenues for FY 2020-21 at 98,068.45 crores against 97,342.14 crores for the same period in FY 2019-20. Passenger revenues were not provided.
February 2021 freight revenues have also surged 5% by 206 crores over the same period in February 2020. Freight brought in 4,571 crores in the first 12 days of February 2021. Revenues in 2020 for the same period were 4,365 crores.
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An Indian Railways statement explained the performance as indicative of “an all round economic recovery.” and the “new management initiatives being taken in Railways to boost business and further improve freight operations.”
Staring at a deep hole in passenger and freight revenues for FY 2020-21, Indian Railways swung into action with a host of new measures to boost freight revenues to try and stem the damage.
Several incentives and discount schemes were rolled out and attempts made to simplify booking of freight by rail. Multi-disciplinary Business Development Units were set down to the divisional level and tasked with reaching out to various sectors to try and grab new types of traffic.
New services such as a host of parcel, RO-RO and ‘Kisan Rail’ trains were also introduced to ease transportation for farmers and small and medium businesses.
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