Context:
Union Railways Minister Ashwini Vaishnaw has assured that despite criticism regarding the slow pace of freight loading, the ministry’s flagship cargo initiative, Mission 3000, remains on track. The mission aims to achieve 3,000 million tonnes (mt) of cargo by 2030.
Cargo
In transportation, cargo refers to goods transported by land, water or air, while freight refers to its conveyance.
Mission 3000 and Strategic Projects
- The government is targeting 3,000 mt of cargo by 2030 under Mission 3000.
- Key infrastructures
- Will give much-needed boost to volumes.
- The Sonnagar-Andal quadrupling is already showing promise, and this will be a quantum jump in cargo handling by itself.
- The rest also look like it would give its own bargain of growth.
Performance and Revised Targets
- Ministry to cross 1,600 mt for the first time in this fiscal.
- But for the Mission 3000 target, the output will have to almost double in the next five years.
- In the wake of the Budget 2025, freight growth has been considered below par.
- The estimates of freight loading for the current year have been reduced by 15 mt to 1,635 mt.
- For FY25-26, the target is 1,700 mt, a 4% increase over FY25.
Growth Challenges
- Post-COVID, the ministry saw double-digit freight growth and crossed important milestones, such as 1,500 mt.
- However, this year, freight growth is expected to be modest, with a mere 2.9% increase in the current fiscal year.
Government Investments and Long-Term Outlook
- The Indian Railways is investing ₹2.5 trillion annually to revamp the freight sector, addressing past neglect.
- With these continued investments and completion of strategic projects, Mission 3000 is poised to drive major increases in freight volumes in the future.
