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Financial Performance and Operational Efficiency of Indian Railways: An Econometric Analysis

Authors

Ajit Kumar Mishra

Research Scholar, Assistant Professor Sanskriti University (Mathura)

Dr. Shiv Narayan Sharma

Research Scholar, Assistant Professor Sanskriti University (Mathura)

Article Information

DOI: 10.51244/IJRSI.2026.1306000047

Subject Category: Management

Volume/Issue: 13/6 | Page No: 747-751

Publication Timeline

Submitted: 2026-05-23

Accepted: 2026-05-28

Published: 2026-06-20

Abstract

Using annual data from 2014–2024, this study examines the relationship between operational efficiency and financial performance of Indian Railways. Key variables include operating ratio, freight tonne-km, passenger km, electrified route km, and macroeconomic controls such as GDP growth and inflation. Econometric analysis using ARDL and regression models reveals that improvements in freight and passenger efficiency, as well as electrification, are significantly associated with better financial performance. Policy implications include targeted productivity reforms, dynamic pricing, and strategic capital allocation.

Keywords

Indian Railways, Operational Efficiency, Financial Performance, Econometrics, ARDL

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References

1. Kumar, R. et al. (2018). Efficiency Metrics of Indian Railways. Journal of Transport Economics. [Google Scholar] [Crossref]

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5. Economic Survey Table 1.26. Government of India, Ministry of Finance, 2024. [Google Scholar] [Crossref]

6. PIB Press Releases (2014–2024). Press Information Bureau, Government of India. [Google Scholar] [Crossref]

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