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Wednesday, January 26, 2022

Here’s how COVID-19 impacted Indian Railways revenue in FY21, check details | Economy News

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New Delhi: For the financial year 2020-21, the Indian Railways’ total traffic revenue decreased by Rs 34,145 crore from the last fiscal year, Minister of Railways, Communications and Electronics and Information Technology, Ashwini Vaishnaw said in a written reply in Lok Sabha.    

The Indian Railways has been making huge losses since the onset of the ongoing COVID-19 pandemic, as several revenue-making operations remain suspended for months. 

Overall, the passenger revenue of Indian Railways decreased by Rs 35,421 crore in FY21 as compared to the last financial year. On the other hand, Other coaching revenue plummeted by Rs 2,544 crore in FY21 in comparison to FY20. 

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“In 2020-21, Railways’ Total Traffic Revenue decreased by 34,145 crores compared to the previous year 2019-20. This was mainly on account of a decrease in passenger and other coaching revenue by 35,421 crores and 2,544 crores respectively compared to the previous year,” the minister said. 

However, the decrease in the revenue was partially offset by an increase in Freight and Sundry Other Revenues, Vaishnaw said. 

Previously, Vaishnaw has also clarified that the passenger train segment of Indian Railways always run in losses. “The passenger train segment always runs into losses. Since increasing the ticket fares affects the passengers, we cannot do so. During the pandemic, the Railways suffered losses of ₹36,000 crore,” he was quoted as saying by Mint.

“Only goods trains generate revenue. During the pandemic, these trains played an important role in carrying goods and providing relief to people,” he reportedly said. Also Read: HAL signs Rs 2400 crore contract with BEL for light combat aircraft manufacturing

Meanwhile, Vaishnav has also clarified that Indian Railways has decided not to provide bedrolls and blankets to train passengers. “With the outbreak of COVID-19 pandemic, as part of precautionary measures linen and blankets have been withdrawn. In view of the continuing COVID-19 pandemic, this precautionary measure will remain in force,” he had said in a response to a question in Lok Sabha. Also Read: Apple delays reopening of office indefinitely; each employee to get $1,000 work from home bonus

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