Page 2 - Freight

Agile policy helped increase freight earnings by Rs 2,706 cr: Railways

The Indian Railways achieved freight loading of 758.2 MT between April and September as against the 736.68 MT recorded in the corresponding period last year, which is an improvement of 21.52 MT. "Railways have earned Rs 81,697 crore against Rs 78,991 crore over the last year, which is an improvement of approximately Rs 2,706 crore as compared to the same period of the last year," the railway ministry said in a statement. "During the month of September 2023, originating freight loading of 123.53 MT has been achieved against loading of 115.8 MT in September 2022, which is an improvement of approximately 6.67 per cent over the last year," it added. The increase in freight loading has translated into an increase in the railways' revenue as it achieved freight revenue of Rs 12,956.95 crore in September 2023 as against the Rs 12,332.7 crore freight earnings in September 2022, thereby showing an improvement of about 5.06 per cent. "Indian Railways achieved loading of 59.7 MT in coal, 14.2

Govt exempts 5% integrated GST on ocean freight imports from October 1

The government has exempted payments made for goods imported through ocean freight from 5 per cent integrated GST with effect from October 1. The Finance Ministry has notified changes to the IGST Act with regard to payment of integrated GST on 'ocean freight' on imported goods with effect from October 1. Currently, importers are required to pay 5 per cent GST under the Reverse Charge Mechanism. KPMG Indirect Tax Head & Partner Abhishek Jain said the amendments proposed are aligned with the apex court's ruling in the case of Mohit Minerals and help explicitly mention the government's alignment to the position. "While this has been issued prospectively, the industry has been seeking and successfully claiming refund of taxes already paid for the past period, where credit has not been availed," Jain added. Giving its ruling in the Mohit Minerals case, the Supreme Court in May last year had held that since the Indian importer is liable to pay IGST on the 'composite supply', comprising

Railways achieve freight loading of 634.66 MT between Apr 1 and Aug 31

In the same period, Cement loading is 63.29 MT over 59.44 MT achieved in the corresponding period of last year, which shows growth of 6.48 per cent, Northern Railways said

Top headlines: Rail freight's 1st dip after Covid, Kharif sowing falls 9%

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Air India mulls inducting freighters to scale up its cargo business

Air India does not currently have any freighters, unlike IndiGo and SpiceJet; all the cargo it transports is carried in the belly space of its passenger planes

Railways introduces HSN codes to stem losses from commodity transport

It's a bid to stem losses from misdeclaration of goods

Taking a look at some high-frequency indicators for January-February

CEA V Anantha Nageswaran had said that to get to 7 percent GDP growth in FY23, the January-March quarter will have to register a 5.1% real GDP growth

Railway freight rises 3.5% in Feb; thermal coal volumes increase 8%

According to sector watchers, the numbers suggest that the railways will comfortably meet its budgeted target of 1475 Mt in the current fiscal year

IBS Software acquires Accenture Freight & Logistics team for unknown sum

Deal will boost IBS leadership as a tech provider to airfreight industry, is a strategic step towards helping establish the acquirer as an end-to-end player in global freight supply chain

Statsguru: How Indian Railways is coming out of Covid-related disruption

The money earned from carrying passengers is expected to surpass the pre-Covid level this year

Union Budget 2023-24: A great year for Indian Railways, says expert

IR, which stimulates almost all sectors of industries and commerce by transporting raw materials and finished goods, is moving much more BTKMs (Billion Tonne Kms) during and post-pandemic times

Budget 2023-24: Soon, Rs 75K-crore transport connectivity projects

Sitharaman has announced that coastal shipping will be a preferred mode of transport for passengers and freight

Railways looks to get up to Rs 2 trillion from freight operations in FY24

National transporter confident of meeting FY23 revenue target

Indian Railways surpasses its FY22 revenue in nine months of FY23

Ministry expects to end FY23 with earnings of Rs 2.35 trillion

Railways ferries 124-mt freight in Nov, clocks 5% rise since last year

Officials peg FY23 freight between 1500-1550 mt

Northeast Frontier Railway clocks 4% jump in freight unloading in October

Northeast Frontier Railway on Thursday said it has registered a nearly four per cent rise in freight unloading at 1,218 rakes during October this year. NF Railway Chief Public Relations Officer Sabyasachi De said 1,218 freight-carrying rakes were unloaded during October 2022 as compared to 1,176 rakes in the same month last year. "NF Railway is continuously registering a steady growth in freight unloading. From April to October of the current financial year, 8,317 freight-carrying rakes were unloaded. This is an increase of 10.13 per cent in comparison to the corresponding period of last year," he added. The local division of the Indian Railway transported goods like FCI rice, sugar, salt, edible oil, food grains, fertilizer, cement, coal, vegetables, automobiles, and other items during the month and unloaded them in different goods sheds within its jurisdiction. "During October 2022, 673 rakes of freight carrying trains were unloaded in Assam, out of which 329 were loaded with ...

Recovery tracker: Decline in railway freight numbers, air traffic

Vehicle registrations and power generation is higher than before

CII urges govt to consider lowering freight, power costs for exporters

Industry body CII on Thursday suggested the government a number of measures, including lowering freight and power costs for exporters and setting up a shipping regulator, to promote outbound shipments. CII National Committee on EXIM Chairman and Patton Group's MD Sanjay Budhia also asked for fast-tracking establishment of an export promotion body. There is also a need to do an internal export promotion and marketing exercise to get more businesses on the export markets, he said at the CII's national exports summit here. "Can we consider lower freight and power costs for exporters? It is not required to have subsidies but calibrated rates so that exporters are not cross subsidising other consumers. In this regard, including electricity costs under GST could be a way out to lower tax incidence," Budhia said. He added that the government can consider a carve-out under the national logistics policy for investments in trade-related infrastructure. States should be encouraged to work on

After wheat, iron ore, Railways raises wagon registration fee for all goods

Moreover, the charge for booking an entire rake, or goods train, has been revised to Rs 1,00,000 from the earlier Rs 50,000

Railways plans to launch Vande Bharat trains for freight operations

The Centre, in this fiscal year's Union budget, had laid out a target to roll out 400 Vande Bharat trains by the end of 2024-25