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Railways’ earnings continue to decline

NEW DELHI: The earnings of Indian Railways continued to decrease with each passing month during the current financial year.

The total earning for the first eight months ending November was Rs. 50,931.98 crore as against Rs. 44,484.60 crore during the corresponding period in 2007 for an increase of 14.49 per cent.

This percentage rise was however lower than what was registered at the end of the seven-month period ending October when it was a more healthy 15.76 per cent jump in revenues.

Each passing month leads to a drop in its revenue notwithstanding its decision to reduce freight rates for short-duration freight and reclassification of commodities such as cement, coal and coking coal leading to hike in the freight rates by seven to eight per cent.

The increase in freight earnings was 15.67 per cent in the April to November period in 2008 over that of 2007. However at the end of October 2008, the seven-month period registered a growth rate of 17.38 per cent showing the declining trend. Even the rate of growth in the passenger earnings has taken a hit. It stood at 12.76 per cent at the end of October over the corresponding period in 2007 but declined to stand at 12.21 to stand at Rs. 14,440.93 crore at the end of November 2008.

About 47.17 per cent passengers commuted during the eight-month period for a 6.47 per cent rise over the corresponding period in 2007 when 44.30 crore travelled by trains

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