The Railways' freight loading and corresponding earnings in October were higher by 15 per cent and 9 per cent respectively than the numbers recorded during the same month last year
The recovery in freight came after it touched a historic drop of 65 per cent in April 2020, over the same month in 2019
The minister noted that despite September being a lean month, for the first time during the past 10 years freight movement touched 100 million tonnes
Among the commodities, the only two commodities that showed positive growth were foodgrains and chemical manures
During the time of lockdown, the Railways increased the pace of infrastructure works, completing almost 200 projects that needed a traffic blockade
It has utilised about 7,135 wagons per day during the April-July period in the current financial year
Railways said that on August 19, the freight loading was 3.11 million tonnes and the earning was Rs 306.1 crore, while on August 19, 2019, the freight loading was 2.97 MT and earning of Rs 300.82 cr
The national transporter handled 3.13 million tonnes (mt) freight on July 27, up 0.3 per cent compared to 3.12 mt on the same day last financial year.
Its earnings from freight also saw 31 per cent fall to Rs 22,266 crore for the April-June period.
The hike in diesel prices have a direct correlation with the freight rates with fuel as a percentage accounting for more than 65 per cent of the variable operating costs for transporters
In April and May, the Railways saw a subdued freight loading at about 70% of what it was in 2019
Among the commodities, coal was the worst-hit, with the sector contributing 60% to the total decline
There is more traffic on the roads, more power being generated, the internet shows lesser signs of strain and more people may be reporting to work
Electricity generation to railway freight data, all point to a major economic decline
The Railways had to run its freight operations, probably becoming the only lifeline for the nation in moving essentials when roads and inter-state routes were sealed
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With the lockdown in place, the national transporter is using about 50-60 rakes per day to ferry food grains but there is demand for more, the sources said
The decline in March has led to a 0.1 per cent reduction in annual earnings till March 25 to Rs 1,21,873.61 crore, compared to a year ago
Till November 2, loading by the Railways was 689.88 million tonne (mt) compared to around 683.19 mt during the same time last year
If public sector majors like NTPC or Coal India show any interest, the possibilities of a joint venture cannot be ruled out