Indian Railways has set a target to get at least 50 per cent share of the country’s freight traffic by 2030.
To achieve this, the Railways is betting big on getting the existing expansion projects and dedicated freight corridors on track, and bringing in more private partnership.
In order to achieve the target, the following areas may require more private sector participation:
• ownership and operations of freight terminals;
• ownership of locomotives and rolling stock;
• coach and locomotive manufacturing and repairs; and
• station redevelopment and modernisation programmes.
NITI Aayog said the Railways’ share in the transportation of surface freight has declined from 86.2 per cent in 1950-51 to 33 per cent in 2015, owing to a shortfall in carrying capacity and a lack of price competitiveness.
The planning body indicate that by the year 2022-23, the Railways should have a freight load of 1.9 billion tonnes and an improved modal share of 40 per cent of freight movement from the current level of 33 per cent.
Coal India Ltd’s (CIL) e-auction has been low this fiscal with the public sector coal miner having to step up supplies to the power sector, which witnessed 6.96% increase year-on-year.
CIL didn’t hold any e-auction during October-November. E-auctions from December fetched high premium for
CIL and the company got an average premium of 81% over the notified price this fiscal as against 50% commanded last fiscal.
CIL has been generally pushing 20% of its production to the e-auction over the years but this fiscal it has been below 10%
After two months gap in e-auction almost the entire amount was booked in CIL’s December auction. Average premium gained in auction was 54% but subsidiaries like Northern Coalfields Ltd gained as much as 84% premium.
After incurring losses for the past three years, state-owned Rashtriya Ispat Nigam Limited (RINL) on Monday reported INR 75 crore net profit for the 2018-19 fiscal.
The following factors have contributed to the profitability of the state-owned Rashtriya Ispat Nigam Limited (RINL):
• increase in sales;
• better realisation; and
• a significant improvement in the techno-economic parameters.
It is hoped that the trend would continue in the 2019-20 fiscal given the fact that the steel market will remain “good” with good domestic sales.
The government has announced the highest monthly collection from GST in March since its roll-out 21 months ago.
This is the fourth time in FY19 that the monthly GST collection has crossed the Rs 1-trillion mark, meeting the target.
The figures indicate that the revenue growth has been picking up in recent months, despite various rate rationalisation measures.
The latest numbers would help the government move closer to the fiscal deficit target of 3.4 per cent of the country’s gross domestic product (GDP) set for FY19. The market will also remain good in the current fiscal as construction and manufacturing sectors are looking up.
Unless the pace of growth of GST collections as observed in 3QFY19 and 4QFY19 is sustained and accelerated, it would be difficult to achieve FY20 budgeted GST collections.