What was the railroads' projected budget for 2023–2024?
The ministry projected in the budget for the fiscal year 2023–24 that 1112 crore passengers would use the railroads, bringing in Rs 77,140 crore in revenue. However, in actuality, just 983 crore passengers were carried, generating Rs 70,368 crore in revenue for the Railways.
This year also, the maximum number of 455 crore passengers traveled in general coaches. After this, 282 crore passengers reached their destination by sleeper class, which is about two crore more than last year. At the same time, the number of passengers traveling in the executive class almost doubled to 1.38 crore. Similarly, the number of passengers traveling by AC class has also increased slightly. 187.05 crore passengers traveled in AC three-tier class (3AC), 36.25 crore in AC two-tier class (2AC) and 3.88 crore in AC first class (1AC).
Railways' revenue from passenger trains also increased by about 15 per cent to Rs 70,368 crore in 2023-24. This year also, the Railways received more revenue from AC third class than sleeper class.
The network of indian Railways is expanding quickly. In the next four to five years, indian Railways intends to launch 3000 additional trains, according to the IBEF research. In the next five years, indian Railways is predicted to have the third-largest worldwide network position, with 10% of the market. Better amenities are being added to railroad stations through modernization and upgrades.
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