The Economic Survey 2023-24 paints a bright picture for Indian Railways, highlighting three key areas where they’re stepping on the gas: increasing capacity, modernizing their fleet, and becoming more eco-friendly. This translates to exciting projects like dedicated freight corridors, whiz-bang high-speed rail lines, and comfy, modern passenger trains like the Vande Bharat and Amrit Bharat Express.
The Modi 3.0 regime is also bulking up their stock with high-capacity wagons to handle more cargo. But it’s not just about speed and volume – the focus is also on smart connections, with investments in last-mile rail linkages to ensure seamless freight movement.
According to the Survey, approximately 673 crore passengers traveled by train during the fiscal year 2023-24, marking a 5.2% increase compared to the previous year. The revenue-earning freight, excluding the Konkan Railway Corporation Limited, also saw a rise of 5.3% from the previous fiscal year.
The Survey added that in the fiscal year 2023-24, approximately 650,000 railway officials received training. The Railways has created specialized learning material for its personnel on the iGOT Karmayogi platform, with over 80% of officials registered, and 12% currently enrolled in at least one course.
The Survey also revealed a 77% increase in capital expenditure on Railways over the past five years, spurred by significant investments in constructing new lines, converting gauges, and doubling tracks.
The environment isn’t getting left at the station either. The Railways are planning special corridors to move energy, minerals, and cement, aiming to cut down on logistics costs and shrink their carbon footprint. Speaking of which, they’ve got a game plan to slash emissions by relying more on renewable energy sources like solar and wind power. This “Green Grid” mission aims to install a whopping 30 Giga Watts of renewable capacity by 2030. They’re also looking at electrifying more trains and planting trees to further reduce their environmental impact.
As of March 2024, they’ve already made significant progress, commissioning solar and wind power plants and securing additional renewable energy sources. It’s a full-steam ahead approach towards a cleaner, more efficient future for Indian Railways!