Railways’ revenue growth goes up to ₹2.56 lakh crore in FY24

The Indian Railways earned a revenue of ₹2.56 lakh crore in the 2023-24 fiscal as opposed to ₹2.40 lakh crore logged in in the last fiscal, Minister for Railways Ashwini Vaishnaw has said.

Vaishnaw in a post on X, said that the railways laid a 5,300 km of tracks in FY24 and put up 551 digital stations in the same time frame.

The minister said the railways recorded freight loading of 1,591 million tonnes (MTs) in the 2023-24 fiscal, 70 million tonnes more than that recording in the last financial year.

In the interim budget, the Finance Ministry allotted a capex push of ₹2.52 lakh crore for the railways for the 2024-24 fiscal. This is a five per cent increase from the ₹2.4 lakh crore allocated a year ago.

According to reports, the railway ministry’s internal and extra-budgetary resources (IEBR) have dropped to ₹13,000 crore in 2024-25 from ₹52,783 crore in 2023-24.

The IEBR funds are usually spent on building railway tracks, trains, wagons, electrification, signaling, enhancing safety features and in developing facilities at stations.

IEBR includes money raised through several modes of financing sources.