Winning Bizness Desk
Mumbai. The Economic Survey 2024-25, presented in Parliament on Friday, revealed significant growth in Indian Railways' passenger traffic and freight revenue for the financial year 2023-24. According to the survey, "Indian Railways (IR), the world's fourth-largest railway network, recorded an 8% increase in passenger traffic compared to the previous financial year. Additionally, freight revenue grew by 5.2% during FY 2023-24."
Rapid Digitization in Indian Railways
The survey highlighted the government's efforts to enhance passenger facilities, focusing on digitalization. It stated, "As of October 2024, 86% of ticket bookings in the reserved category were made digitally. In the unreserved category, digital ticketing, which was at 28% at the beginning of the financial year, increased to nearly 33% by October 2024."
The increased digital adoption has not only streamlined operations but also improved passenger convenience, reflecting the government's push towards a technology-driven railway network.
Railway Budget to See a Major Hike
Finance Minister Nirmala Sitharaman allocated ₹2.65 lakh crore to the Indian Railways in the FY 2024-25 budget. This amount covered employee salaries, pensions, and the modernization of the railway network. According to a report, the capital expenditure for Indian Railways in the upcoming budget could see a 15-20% increase. If this happens, the allocation for FY 2025-26 could exceed ₹3 lakh crore, supporting extensive infrastructure upgrades and expansion.
Key Focus Areas for Indian Railways
Indian Railways has been undergoing rapid modernization, launching several Vande Bharat trains in recent years. Additionally, the Amrit Bharat Express has been introduced to enhance passenger travel. Efforts are also underway to replace aging railway tracks to increase train speeds and improve safety. To prevent accidents, the Railways is working on implementing the Kavach system across its entire network. This indigenous safety mechanism is expected to enhance operational efficiency and reduce collision risks.
With continued investments and technological advancements, Indian Railways aims to reinforce its position as a key driver of India’s transportation sector while ensuring safer and faster travel for passengers.
