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Last Updated : Oct 17, 2020 11:31 AM IST | Source: Moneycontrol.com

Indian Railways' freight revenue rises in October, hints at demand revival

Union Finance Minister Nirmala Sitharaman on October 16 said a V-shaped recovery is being seen in several high-frequency indicators.

Representative image
Representative image

Indian Railways' freight revenue has increased 11 percent year-on-year (YoY) in the first 13 days of October to Rs 4,124 crore, hinting at a rise in economic activity and demand after interruptions due to the COVID-19 pandemic.

Freight volume too, jumped due to increased loading of commodities such as coal, cement, fertilisers, steel and food grains, according to a Mint report citing data from the Ministry of Railways.

Freight volume rose 18 percent during October 1-13, compared with the same period last year, to 43.46 million tonnes (mt), the report said.

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During the same period, the average loading of 53,774 wagons per day grew 16.5 percent from a year ago.

In the first half of FY21, freight traffic saw a drop of 9 percent YoY to 533 mt, earnings declined 17 percent to Rs 50,185 crore, Mint reported.

Since August, freight loading and revenue have seen a gradual increase, after plunging in the first quarter of FY21 due to the lockdown and COVID-related restrictions.

Union Finance Minister Nirmala Sitharaman on October 16 said a V-shaped pattern of economic recovery is being seen in many high-frequency indicators.
First Published on Oct 17, 2020 11:31 am
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