Spotting early signs of economic revival, the Indian Railways have kept an ambitious revenue targets of Rs 88,419 crore (Rs 884.19 billion) for 2009-10, reflecting an increase of Rs 8,557 crore (Rs 85.57 billion) on the actual realisation in the previous year.
"In the first quarter (April-June) of the current fiscal, the freight growth was over five per cent. In June itself, it was as much as nine per cent... Prospects are very good. There are signs of economy looking up," Railway Board member (Traffic) Shri Prakash told reporters here.
He said the revenue projections for 2009-10 both on account of freight and passenger earnings were not unrealistic.
The second half of the 2008-09 saw a decline with the result that the freight target of 850 million tonnes was missed, he said.
However, it would not be an easy journey for the Railways in the current year. "The year 2009-10 imposes greater challenges", Railway Board chairman S S Khurana said.
The railways get bulk of revenue from the freight traffic, which was impacted by the slowdown in the Indian economy on global financial concerns.
In reduction of the tatkal charges, the railways are betting on increased volume of business through the spot reservation of seats.
Prakash said that the tatkal accounted for 12 per cent of total reservation.
"With reduced charges, we hope to earn more", he said.