To boost the morale of all railwaymen across the country, the Union Railway Minister Shri Lalu Prasad has announced cash awards amounting to Rs. 17.40 crore for railway officers and staff of all Zonal Railways for their excellent contribution in achieving record revenue earning freight loading by Indian Railways during the year 2007-08. The group cash awards include Rs. 1 crore to each of the Zonal Railways, Rs. 20 lakhs to each of the six Production Units and Rs. 20 lakhs to Central Organization for Railway Electrification.
It may be mentioned that the Indian Railways have carried highest ever loading of more than 794 million tonnes during the financial year 2007-08. This has exceeded the initial Budgeted target of 785 MT and the revised estimate target of 790 MT loading. The highest ever incremental loading during a financial year of 65.59 MT has also now been achieved. This has beaten the previous record of 64.61 MT achieved in 2005-06.
The spectacular freight performance of Railway has firmly positioned it as an engine of economic growth in the country. This achievement is a testimony of the vision and dynamic leadership provided to Indian Railway by the Minister for Railways and the Ministers of State for Railways and the dedication, hard work and teamwork of all railwaymen.
Indian Railway have now set a target of loading 850 MT in 2008-09 and an ambitious target of 1100 MT of revenue earning freight traffic by the terminal year (2011-12) of the 11th Plan. The thrust henceforth will be to consolidate the position gained so far by equipping the system for higher growth.
Shri K. C. Jena, Chairman, Railway Board, in his message to all Railwaymen said that this cash award is an unprecedented gesture of the Railway Minister to salute an equally unprecedented achievement. Shri Jena called upon the Railwaymen to perform even better in the future to build the Railways into a vibrant, responsive and safe system.
Shri Jena said that zeal and zest of Railwaymen has resulted in 14.4 per cent growth in passengers earnings, 4.6 per cent in other coaching earnings, 48 per cent in sundry earnings and 13.5 per cent in freight earnings in 2007-08 compared to the previous year. He said that the projections for other indicators are also very encouraging. Gross traffic revenue is 14.5 per cent higher than the previous year and 0.2 per cent higher than the budget estimates. He said that operating ratio is likely to be 76.3 per cent (best in the world), the End Fund Balance is likely to increase to Rs. 20,483 crore ( 27 per cent more than budgeted target) and the Cash Surplus before dividend is expected to be Rs. 25,000 crore. All railway men deserve kudos for this heat-warming performance, he added.
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