Indian Railways clock record high revenue in FY17 but is yet to improve the operating ratio, reports the Economic Times today.
Discounts ranging from 1.5 percent to 35 percent are on the offer for freight customers for providing certain minimum loadings as part of the new business plan 2017-18 rolled out by Railway Minister Suresh Prabhu here.
The Railways will now provide space to postal department and private players to ferry their parcels in the guard's compartment of some selected trains.
Steel ministry to take proposal to NITI Aayog for using left-over gases from coke ovens and blast furnaces for generating renewable power
Freight rates for nine-tonne pay load section declined by Rs 1,000 at the local truck transport market today following ample position of trucks against cargo movements.
Merging budgets, and independent fare agency, railways is in for an exciting time as the government, flush with funds thanks to demonetisation, will find an outlet in railways which is starving for money to implement its various projects.
In an interview with CNBC-TV18, Vinod Aggarwal, CEO - VE Commercial Vehicles, Eicher Motors, talked about freight rates and the margin situation for the industry and the company, respectively.
Last week, Indian Railways facing a shortfall in freight loading, rationalised its coal tariff by reducing long-distance transportation rates, while raising it for short distances. It also imposed a Rs 110 per tonne coal terminal surcharge at loading and unloading for distances beyond 100 km.
The Union Cabinet approved the massive line expansion programme that includes nine projects of track construction for a total length of 1937.38 km at an estimated cost of Rs 20867.24 crore, said a senior Railway Ministry official.
As per the new rate, coal loading would cost Rs 712 per ton for transportation upto 497 km now as against Rs 702. It will be Rs 2,138 per ton for 1,807 km transportation now as against the existing rate of Rs 2,348.
Speaking to CNBC-TV18, Director & CFO, P Alli Rani said Concor's volumes have declined year-on-year but sequential improvement is visible.
If the standard rate is 17-18 percent, the market will stay excited about GST, says Mahesh Nandurkar, India Strategist, CLSA. But if the standard rate is 20 percent or higher, the enthusiasm over GST will die down, he says.
"The railways was in deep trouble not now but in the last 20-30 years. That is what the Rakesh Mohan committee report had said. So now we are trying to create a situation where the railways will be able to breathe well," he told PTI.
As per the existing policy, this charge is not levied during the lean season - July to September, which implies that BSC will not be levied effectively till September 30, 2016.
Facing competition from road sector, Railways today rationalised the freight policy with the formulation of "merry-go-around" (MGR) scheme to increase the coal loadings from pitheads to plants.
Aiming at increasing freight volume, railways today launched a new traffic rationalisation policy which includes multi-point loading facility for covered wagons and increasing distance limit for mini-rake facility to 600 kms.
Anish Maheshwari, Group CFO, Navkar Corp says, the company is doing well in the domestic markets currently.
Railway minister Suresh Prabhu listed his government's achievements and also set targets for FY17
Freight revenue should be focused in this Budget as its market share has fallen from 80 percent to 30 percent, says Umesh Chowdhary, VC and MD of Titagarh Wagons.
"There is lack of political will to raise passenger fares even though the reluctance is not shared by passengers, who would be willing to pay more provided the hike is accompanied by better services including timely arrival of trains, cleanliness at stations, safety and improvement in food," the chamber said a memorandum to the Railway Minister.
The next big trigger for the entire trucking industry in India will be the passage of the landmark GST Bill, says Volvo President Pierre-Jean Verge-Salamon.
Surprisingly, for the sheer amount of revenues that freight generates for Indian Railways, it has received very little attention from people in general
Railway minister Suresh Prabhu says the dedicated freight corridor has got investments of Rs 17000 crore in six months, and more tenders will be issued under freight corridor programme
India's Cabinet could as early as next month consider making it mandatory for state-owned oil, steel, coal and fertiliser importers to route at least half of their cargoes through local shippers as part of a broader agenda of Prime Minister Narendra Modi to shore up and protect the ailing sector, a government source said
Railway Minister Suresh Prabhu is also confident of meeting capital expenditure targets for railway this year