BENGALURU: The 2020-2021 fiscal has been one of huge achievement for the Indian Railways on numerous fronts, including infrastructure development, freight and electrification, according to Suneet Sharma, Chairman and Chief Executive Officer of the Railway Board.
In an exclusive interaction with The New Indian Express, Sharma said the capital expenditure (capex) on infrastructure development during the current financial year was far higher than the previous years. “We expect a capex of Rs 1.61 lakh crore. If you look back, the average capex used to be in the range of Rs 45,000-50,000 crore in Indian Railways.”
On the electrification front, Railways covered between 4,000 -4,500 km during an average year. “We already covered 4,900 km (up to March 26) and around 25 inspections of railway sections are lined up before March 31. We expect to do 6,000 km of electrification this year, the highest ever in a year by the Indian Railways,” the chairman said. On the lines of air cargo traffic, freight transportation is proving to be a steady revenue grosser.
Railways eyes freight share rising to 45% by 2050
“We have already transported 1,213 million tonnes this year, as opposed to 1210 mn tonnes last year, and this figure will increase as the year is not yet over,” Sharma said. The dedicated freight portal, (https://www.fois.indianrail. gov.in/RailSAHAY), launched on January 6 this year, has received a tremendous response,” CEO Suneet Sharma added. A vision document has been readied which is part of National Rail Plan 2030.
“The objective is to ensure our present freight share in the market of 27 per cent goes up to 45 per cent by 2050,” he explained. Railway scrap has also been generating considerable revenue. “A total of Rs 4,420 crore was earned till March 27. We have a few more days for the year to conclude and will be able to touch Rs 4,450 crore, our highest ever scrap sales.” A total of 100 stations across the country, where land can be monetised, have been identified for development.
“This will ensure that Railways does not have to spend money on its own,” he said. On the amount expected to be generated through commercialisation of assets, he said, “Our targets are quite steep. We have been told we have to earn Rs 50,000- 60,000 crore within the next five years.” The Railways had identified 87 land parcels across the country which are commercially viable. “They have already been tendered and we are looking at good margins from them,” he said.