Facing loadings shortfall, railways will seek to enlarge the freight basket to include 40 more items, including automobile and FMCG, in a big way, and rationalise traiff structure.
The aim is to increase the freight share to 45 per cent from the existing 36 per cent in the next few years, Railway Board Chairman A K Mital said.
Currently railways is concentrating on about 10 bulk commodities like coal, cement, iron ore, and foodgrains.
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In order to check the declining share of freight in revenue, Mital said railways will expand the freight operations, rationalise tariff structure and building terminal capacity.
The freight share has come down to 36 per cent due to competition from road transport and our aim is to take it to 45 per cent by 2024, he added.
For the first time, a time-table would also be introduced for freight trains.
To attract more freight earnings from automobile sector, railways will set up an auto hub in Chennai for transportation of cars.
Action plan is being made to recapture traffic through either containerisation or new delivery models such as 'Roll-on Roll-off'. Besides, a time-tabled freight container, parcel and special commodity train will be started on a pilot basis.
'Roll-on, Roll-off' model envisages carrying loaded trucks on rail to their destinations.
Mital said a review of tariff policy will be undertaken to evolve a competitive rate structure vis-a-vis other modes, permit multi-point loading/unloading and apply differentiated tariffs to increase utilisation of alternat routes.
On dedicated freight corridors, Mital said, "There will be three more corridors for exclusive movement of goods. The work is going on Western and Eastern Corridors which will be operationalsed completely by 2019 and a part of 56 km will be commissioned this year."
Asked how railway will manage its finances given the 7th Pay Commission recommendations, Mital said there is a provision of Rs 20,000 cr in the budget for this.
Besides, he said, other measures like curbing expenditure on account of energy bill has been undertaken.
He said steps are being taken for more capital expenditure through various sources of funding in order to ensure projects are given assured funding.
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Railways has a plan outlay of Rs 1.21 lakh crore for the 2016-17.
While railways got Rs 45,000 crore as gross budgetary support, it would generate Rs 18,000 crore from partnership, Rs 27,000 crore from internal resources, Rs 23,000 crore from LIC and other financial institutions, and Rs 21,000 cr from IRFC bonds.
He said railways will launch seven missions to increase traffic volume, strengthen safety and help generate more revenue.
Seven missions will be launched to increase the traffic by 10 to 20 per cent, enabling generating more revenue in the coming years, Mital said.
