Railway minister Ashwini Vaishnaw
Credit: PTI File Photo
New Delhi: Union Railways Minister Ashwini Vaishnaw stated in the Rajya Sabha on Friday that the financial health of Indian Railways has improved significantly over the last 10 years,
He emphasized that the national transporter now generates a small revenue surplus after covering all its costs. This improvement stems from concerted efforts to boost freight traffic, enhance passenger revenue, and control expenses through greater operational efficiencies.
Vaishnaw during Question Hour in Rajya Sabha, highlighted key factors contributing to this surplus, including savings of Rs 5,500 crore in energy costs, improved maintenance practices, and an increase in freight traffic by 400 million tonnes.
In the 2024-25 fiscal year, the operating ratio was 98.22 per cent, gross traffic receipts Rs 2,65,114 crore and surplus Rs 2,660 crore, he said.
Vaishnaw said the railways staff cost stands around Rs 1.18 lakh crore for about 12 lakh employees while 18 lakh pensioners cost Rs 65,000 crore. The energy cost is Rs 32,000 crore, finance cost Rs 23,000 crore and maintenance cost Rs 8,000 crore.
The overall cost of railways is about Rs 2.74 lakh crore, he added.
Vaishnaw said the Prime Minister's decision to achieve complete electrification of the railway network has led to reduction in the energy cost besides providing immense environmental benefits.
The energy (diesel and electrical) cost has reduced to about Rs 32,400 crore from Rs 37,841 crore four years ago, despite increase in freight traffic, he highlighted.
Vaishnaw said the government is providing a subsidy of Rs 60,000 crore to all passengers. The subsidy level is 45 per cent in the railway fare for passengers.
The Minister said total 5.04 lakh jobs were generated during the 2014-24 period while another 1.5 lakh employment is being provided in the third term of the government.
Vaishnaw said the process of filing 18,000 vacancies of assistant loco pilots has been completed and their onboarding has begun.