Indian Railways most preferred carrier of automobiles? Here’s what Railway Ministry says

By: |
New Delhi | April 27, 2018 10:49 PM

Railways has emerged as the most preferred carrier of automobiles in the country during the 2017-18 fiscal with a 16 per cent jump in vehicles being transported by trains, the ministry said today.

indian railways, railway ministry, automobile traffic, NMG wagons, AFTO policy, indian railways automobile trafficIn 2017-18, around 29 million vehicles were produced in the country registering a growth of 14.78 per cent over the same period last year. (IE)

Railways has emerged as the most preferred carrier of automobiles in the country during the 2017-18 fiscal with a 16 per cent jump in vehicles being transported by trains, the ministry said today. In 2017-18, around 29 million vehicles were produced in the country registering a growth of 14.78 per cent over the same period last year. Railways’ earning from automobile traffic has increased by 18 per cent as compared to 2016-17, the Ministry of Railways said. “Year 2017-18 has witnessed a paradigm shift in the marketing efforts of Indian Railways to attract automobile traffic and enhance our freight basket.

Specially in the later half of 2017-18, under the guidance of the Minister of Railways, we decided to liberalise Automobile Freight Train Operator (AFTO) policy to encourage more private investment in special wagons, procurement of our own BCACBM (high-capacity railway wagons) and NMG wagons,” said Mohd Jamhsed, Member Traffic, Raiway Board.

Watch video: Indian Railways Converts Diesel Loco To ‘Make In India’ Electric Locomotive

In view of the issues raised by the stakeholders, the AFTO policy has been liberalised wherein registration fees for the AFTO scheme has been reduced from Rs five crore to Rs three crore and the condition of minimum procurement of three rakes under the scheme has been relaxed to one rake. The revision was issued on October 13, 2017.

Jamshed stated that in April, 2018, the national transporter has taken two game- changing decisions to allow handling of automobiles from all container terminals and to allow loading automobiles and auto spares in privately owned wagons in different directions for optimal utilisation of stock. Railways is also working closely with automobile industry to develop policies which are mutually beneficial to industry as well as Railways, the statement said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Indian Railways gears up for upcoming monsoon season; conducts preparation works in Mumbai suburban network
2Indian Railways cancels more trains! See list of special trains cancelled by the national transporter
3Indian Railways completes run of 100 Oxygen Expresses