New Delhi, July 03: Spotting early signs of economic revival, the Indian Railways have kept an ambitious revenue target of Rs 88,419 crore for 2009-10, reflecting an increase of Rs 8,557 crore on the actual realisation in the previous year.
"In the first quarter (April-June) of the current fiscal, the freight growth was over five percent. In June itself, it was as much as nine percent... Prospects are very good. There are signs of economy looking up," Railway Board Member (Traffic) Shri Prakash told reporters here.
He said the revenue projections for 2009-10 both on account of freight and passenger earnings were not unrealistic.
The second half of the 2008-09 saw a decline with the result that the freight target of 850 million tonnes was missed, he said.
However, it would not be an easy journey for the Railways in the current year. "The year 2009-10 imposes greater challenges", Railway Board Chairman S S Khurana said.
The railways get bulk of revenue from the freight traffic which was impacted by the slowdown in the Indian economy on global financial concerns.
In reduction of the 'tatkal' charges, the railways are betting on increased volume of business through the spot reservation of seats.
Prakash said that the tatkal accounted for 12 percent of total reservation. "With reduced charges, we hope to earn more", he said.
Khurana said the freight earnings would grow to 58,525 crore in 2009-10 and passenger earnings to Rs 24,309 crore despite difficult year ahead.
"We are aware of the difficult year ahead but have already geared up to ensure that we not only achieve these targets but also improve upon them... The 2009-10 budget gives railways the centre stage as engine of growth and development," he said.
Referring to improvement in passenger amenities as promised in the budget, Prakash said that the economy meal 'Janata Khana' will have a variety of regional cuisines.
"Janata Khana does not mean puri-sabzi alone. It will have things like rajma-chawal, chole-bhature and sambhar-chawal", he said.
Khurana said the new initiatives like Multi Functional Complexes at railways stations would offer a variety of facilities like shopping and food plaza under one roof.
Elaborating on the decision to build 50 world class stations under public private partnership model, he said, they would be built on the lines of airports which have separate arrival and departure lounges.
Asked about the low cost air-conditioned Yuva trains, Prakash said these would have only seating arrangement and ply between stations with a day journey.
Bureau Report