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Lockdown led to 42% dip in revenue, ticket refund of Rs 3,371 cr: Railways

Owing to discontinuance of passenger services due to lockdown, traffic revenue by August end declined 42% as compared to last year with the railways refunding Rs 3,371 crore for cancelled journeys

Railways  | Lockdown | Coronavirus

Press Trust of India  |  New Delhi 

indian railways, coronavirus

Owing to discontinuance of passenger services due to the coronavirus-induced lockdown, traffic revenue by August end declined by 42 per cent as compared to last year with the refunding over Rs 3,371 crore for cancelled journeys between March-August, the Lok Sabha was informed on Wednesday.

To a query on the effect of the on the finances of the Railways, minister Piyush Goyal informed the Lok Sabha that due to discontinuance of passenger services, up to the end of August, the number of originating passengers has been 1.27 per cent and freight loading has been 86.6 per cent of the corresponding period last year.

"Consequently, the traffic revenue of to the end of August 2020, at Rs 41,844.31 crore has declined by 42.3 per cent over the corresponding period last year," he said in a written reply.

Goyal, in a reply to another question on losses in traffic revenue said the total amount of refund granted up to September 10 due to cancellation of tickets booked till April 14 for journey period from March 22 to August 12 in regular time tabled trains, which were cancelled due to lockdown, was approximately Rs 3371.50 crore.

During this period, the had refunded 1,77,59,579 tickets.

"Indian Railway Catering and Tourism Corporation (IRCTC) has a proper mechanism to contact the customers through their registered email ID when refund is pending due to closing of bank account from which payment was made for the ticket. In such cases, customers are requested to provide their new bank details to process the refund and on receipt of these details, the amount is transferred," he said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, September 16 2020. 19:40 IST