Indian Railways' FY23 Passenger Revenue Rises By An Incredible 61%

The Railway Ministry posted a record revenue of ₹2.40 lakh crore in the 2023 financial year, which increased by nearly ₹49,000 crore from the previous year.

What Happened? According to figures released by the government, railway freight revenue grew by almost 15% to ₹1.62 lakh crore, and the passenger revenue surged to an all-time high growth of 61%, reaching ₹63,300 crore.

The Finance Ministry has been approached by the railways over the years to bear parts of its pension burden. The railways earned ₹63,300 crore in FY23 as compared to ₹39,214 crore in FY22 in terms of traffic revenue, according to the statement.

‘Other coaching revenue’ earned by the railways was at ₹5,951 crore in FY23 as compared to ₹4,899 crore during FY22.

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Gross traffic receipts during FY23 stood at ₹2,39,750 crore as compared with ₹1,91,206 crore in FY22. The total railway receipts in 2022-23 were ₹2,39,892 crore as compared with ₹1,91,367 crore in the previous year.

The quarterly revenue statement also mentioned that the total railway expenditure in FY23 was ₹2,37,375 crore as compared with ₹2,06,391 crore in 2022. The operating ratio in FY23 was 98.14%.

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