Indian Railway posts 10% increase in cargo revenue in 2011-12

The Indian Railway is reporting a 10% increase in revenue in goods movement from the previous year, due mostly to the increase in the shipment of coal to power plants. For the current fiscal year, the company is expecting Rs 62,489.33 crore (US$13.9 billion) in revenue. They are projecting Rs 27,126.49 (US$602.47 million) in revenue from the movement of coal for steel plants, washeries, thermal power plants and other public users. According to Railway Minister Mamata Banerjee, the company expects to finish the current fiscal year 2011-12 at Rs 24,127.77 crore (US$5.36 billion).