By: M4G Bureau
Last updated : December 05, 2017 6:53 pm
Indian Railways is striving to substantially increase its Non-Fare revenue by monetising its physical and digital assets such as trains (inside and outside), passengers, station platforms, buildings and residential colonies, land next to tracks and digital and physical interfaces.
Railway Minister Suresh Prabhu had announced during the Railway Budget 2016-17 that "Although we enjoy the highest captive eyeballs in a railway system internationally, we earn less than 5% of our revenues through non-tariff sources. Many of the world railway systems generate 10% to 20% of their revenues from non-tariff sources. Over a period of the next five years, we will strive to reach this world average by monetising assets and undertaking other revenue yielding activities."
Indian Railways is striving to substantially increase its Non-Fare revenue by monetising its physical and digital assets such as trains (inside and outside), passengers, station platforms, buildings and residential colonies, land next to tracks and digital and physical interfaces.
The Challenge is designed as an online competition hosted at "https://innovate.mygov.in" for submission of innovative ideas for increasing Non-Fare Revenue of the Indian Railways. The challenge invites ideas to identify non-tariff revenue sources derivable from all assets owned by Indian Railways, without compromising existing level of ergonomic comfort and passenger amenities.
Indian Railways have identified Non-Fare Revenue initiatives, mentioned below, which are beyond the scope of this Challenge: