The Railway Minister said that focused investments for augmenting transportation capacities of the national transporter on major freight routes are currently being undertaken in order to facilitate higher freight volumes.
Indian Railways looks to earn big from freight traffic! Over the past three years, freight traffic and Indian Railways’ earning from it have shown an upward trend, Railway Minister Piyush Goyal has said. While replying to a question in Lok Sabha, the Railway Minister said that the freight loading in the financial year 2018-2019 was 1,221.39 million tonnes, while the earnings were Rs 1.27 lakh crore. In the year 2017-2018, the national transporter loaded 1159.55 metric tonne goods, earning an amount of Rs 1.17 lakh crore from it. The previous year, the loading was 1106.15 metric tonne, while the earnings were Rs 1.04 lakh crore, Goyal said.
The minister was quoted in a PTI report saying that focused investments for augmenting transportation capacities of the national transporter on major freight routes are currently being undertaken in order to facilitate higher freight volumes. While listing the measures taken by Indian Railways to promote freight traffic, Goyal said that freight incentive schemes such as Traditional Empty Flow Direction (TEFD) as well as Long Term Tariff Contract (LTTC) have been formulated.
He further said that for facilitating a long term synergy between the Indian Railways and freight customers, private wagon investment schemes such as General Purpose Wagon Investment Scheme (GPWIS), Automobiles Freight Train Operator (AFTO), Special Freight Train Operator (SFTO) and Liberalised Wagon Investment Scheme (LWIS) have been formulated.
Meanwhile, the two Dedicated Freight Corridors (DFCs) – the Eastern DFC and the Western DFC – are targeted to be completed by the year 2021 in phases. The Khurja-Bhaupur stretch on Eastern DFC and the Rewari-Palanpur stretch on Western DFC are scheduled for completion this year only. The DFCs are being implemented by the Dedicated Freight Corridor Corporation of India Limited (DFCCIL), a Special Purpose Vehicle set up under the Railway Ministry to undertake planning and development, mobilization of financial resources as well as construction, maintenance and operation of the DFCs.