Indian Railways announces record revenue of $29.2 billion in FY23
Indian railways
The Indian Railway Ministry on Monday announced a record revenue of Rs 2.40 lakh crore ($29.2 billion)for the financial year 2022-23, with a 25 per cent increase in the revenue. This year's revenue is some $5.9 billion more than the previous year. It added that in the financial year 2022-23, the freight revenue also increased by 15 per cent.
According to the data announced by the Ministry, railways' passenger revenues registered an all-time high growth of 61 per cent. It added that after three years, the Railway is about to fully meet its pension expenditure, The Statesman reported.
The ministry further said, "Buoyancy in revenues and tight expenditure management have helped in achieving an Operating Ratio of 98.14 per cent, well within the RE [revised estimate] target. After meeting all revenue expenditure, Railways generated ₹3,200 crore for capital investment from its internal resources."
Attributing tothe increase, the ministry said that therise indemand for rail travel, efforts by the ministry to provide safety and the gradual opening up of economic activities post-COVID-19 pandemic made people travel more by trains.
Watch |Indian railways earns record revenue in 2022-23
)
The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS
)
American blogger Perez Hilton, covered in blood, cuts himself during livestream, hospitalized after distressing incident
)
'I was almost trafficked in Paris,' says Australian woman, shares terrifying ordeal - 'I am on the black market'
)
Why did India turn down the US offer for F-35 fighter jets? EXPLAINED
)
India avoids higher US tariff, secures lower 10% rate. Here's how
&im=FitAndFill=(700,400))
Pradeep Rawat died at 74: Revisit the unforgettable roles that defined his career
)
Why did FSSAI ban the sale of Old Monk, Antiquity Blue and other liquor brands?
)
Mark Zuckerberg apologises to Indian government over harmful content, platform errors amid PM video row
&im=FitAndFill=(700,400))
Can an S-400 detect a bird?
)
‘India’s FCRA bill an attack on Christians, could hit bilateral ties,’ says US lawmaker
)
The genetic roots of Tamils: 75,000 DNA markers decoded in latest study of Sangam-era settlement
)
'Crass, cheap and deeply derogatory:' Internet slams Udhayanidhi Stalin over his 'double-meaning' remark on Trisha
&im=FitAndFill=(700,400))
Why are iPhones so expensive compared to Android phones?
)
Punjab Assembly passes resolution against Centre's mandatory E20 petrol rollout
)
Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'
)
'Should not be bullied': CJP says movement will expand beyond protests. Politics, or something bigger?
)
WMO warns Super El Niño is set to become monstrous between Aug-Oct - This was 'only a warm-up act'
)
Munir-protege Mohsin Naqvi’s claim of unearthing huge scam triggers tremors in Pakistan’s power corridors
)
Influencer killed on livestream: Mexican cartel boss' son asked dad to kill woman who broke up with him
)
Trump goes 'bing bing bing' 11 times within 5 seconds at Iran war briefing
)
What’s happening in Nepal? How did a local clash turn into communal violence? WION Decodes
)
Scientists find descendants of ancient sea creatures trapped under Antarctica's Blood Falls
)
'I believe in freedom of expression...': Shashi Tharoor clarifies on attending event where RSS chief Mohan Bhagwat will address Gen Zs
&im=FitAndFill=(700,400))
7 longest flights in the world - Singapore, Qantas, Qatar and others
)
Who is Devendra Nath Mahto, Jharkhand’s 'Sonam Wangchuk' fasting for protesting students?
)
CJP's Saurav Das alleges YouTubers broke into his house, seeks Delhi Police action
&im=FitAndFill=(700,400))
Why Russian tanks are much lighter compared to US tanks
)
‘Disputes could help ousted forces make comeback’: Bangladesh PM warns ahead of Sheikh Hasina’s Delhi PC
&im=FitAndFill=(700,400))
Who is Sujatha Vijayakumar? The producer defending daughter Aarti in Ravi Mohan divorce battle
)
'World's most beautiful village' with only 627 people generated Rs 58 lakh in traffic fines in 2025
&im=FitAndFill=(700,400))
New OTT releases this week (August 3-9, 2026): Main Vaapas Aaunga, Uyir, Operation Safed Sagar- 6 titles coming on Netflix, Prime Video and more
)
Did military GPS jamming cause a plane to crash in New Mexico? Here's what a report says
)
Ghajini villain Pradeep Rawat passes away at 74 after battle with cancer
The statement read, "Railways are focused on providing safety highest priority. An investment of Rs 11,800 Cr under Rashtriya Rail Sanrakhsa Kosh was made during FY23 for various safety works. Government while appreciating the need for renewal of ageing assets, has provided Rs 10,000 Cr, and Railways also contributed Rs 1800 Cr from internal resources for upgradation of depreciated assets."
The railways also experienced an increase in coaching revenue which rose by 21 per cent. The sundries revenue also rose by 39 per cent compared to the previous year.
As per the statement, during the year 2022-23, the Gross revenue stood at Rs 2,39,803 crore compared to Rs 1,91,278 crore in 2021-22.
According to the news agency ANI, Rs 1 lakh crore was invested in augmenting the capacity of the railway network.
The year 2023 saw the highest-ever commissioning of New lines and Doubling or Multi-tracking.
(with inputs from agencies)
WATCH WION LIVE HERE
You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.