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Indian Railway joins club of Chinese, Russian and U.S.A in freight loading

New Delhi, Tue, 02 Apr 2013 NI Wire

Facing irks over the increasing fare hikes and other charges, there is some good news for Indian Railways which has achieved s achieved yet another significant milestone when it entered the one billion tonne select club in freight movement joining Chinese, Russian and USA railways.

Union Railway Minister Pawan Kumar Bansal has congratulated Railwaymen for this major achievement.

Bansal has said that Indian Railway is all set to play the role of engine of growth for country’s economy. In a message to the reilwaymen, he said it is really creditable to achieve this significant freight loading despite present economic scenario the world over.

Bansal had announced in his 2013-14 Rail Budget speech that Indian Railways is poised to enter the one billion tonne select club. Indian Railways did achieve this mile stone despite the present industrial growth in the country. The achievement is more than the revised target of 1007 million tonnes fixed for the year 2012-13.

It may be worthwhile to mention that the economic growth in the country has been sluggish in 2012-13 and it is estimated that the GDP growth would be in the range of 5 percent.

It is noted that in 2012-13, Indian Railways have been able to achieve an originating freight loading of around 1010 million tonnes (i.e. one billion plus), which shows an incremental loading of 40 million tonnes (4.1 percent growth) over the last financial year.

The Index of Industrial Production (IIP) growth during the period April-December in 2012-13 has been 0.7 percent. The growth in the index of 8 core infrastructure industries has been 3.3 percent during April-December, 2012-13. Demand for Railway transportation services is a derived demand with a direct co-relation to the IIP growth in the country, especially the growth in the core infrastructure industries.

(With inputs from ANI)


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