Passenger earnings were revised downwards to Rs 13,940 crore (Rs 139.40 billion) in the 2004-05 Railway Budget presented today as against the proposal of Rs 14,200 crore (Rs 142 billion) in the Interim Budget.

Presenting the Railway Budget in the Lok Sabha, Railway Minister Lalu Prasad said this was being done in the light of actual growth rate achieved during 2003-2004.

Prasad said it is proposed to revise the freight earnings for the current year, duly enhancing the loading target by 10 million tonnes and fixing the same at 580 million tonnes.

He said the freight earnings have been placed at Rs 28,745 crore (Rs 287.45 billion), which is Rs 645 crore (Rs 6.45 billion) higher than the Interim Budget level.

The minister said freight earnings, which were brought down at the revised estimates stage last year, based on the trend at that time, showed remarkable recovery later due to general buoyancy, as a result of which the revised target was surpassed.

Prasad said the other coaching earnings in the Interim Budget were assessed at Rs 990 crore (Rs 9.90 billion) assuming a growth of around 6.5 per cent over the revised estimates, 2003-04.

These are now assessed at Rs 1,040 crore (Rs 10.40 billion) taking into account the proposed re-classification of parcel rates, which is estimated to fetch additional revenue of Rs 50 crore (Rs 500 million), he said.

Taking note of the shortfall in sundry other earnings in 2003-04, the target for the current fiscal is being set at Rs 1,072 crore (Rs 10.72 billion), which is Rs 40 crore (Rs 400 million) lower than the Interim Budget.