 "Railways to increase revenue through non-fare sources to 10%")
Railways will focus on increasing productivity and better manufacturing practices to become a meaningful player in the domestic & international markets and earn revenue from manufacturing activity. It is aiming to generate annualised revenues of about Rs 4,000 crore by 2020.
This was stated by the Minister of Railways, Suresh Prabhu, in railway budget while stressing on the need for Indian Railways to increase the revenue through non-fare sources. Railways is planning to increase revenue through non-fare sources from current less than 5 percent to 10 percent in the next five years.
The Railway Ministry has initiated a major programme of station redevelopment to monetise land and buildings through commercial exploitation of vacant land and space rights over station buildings. Railways will also lease out the land available adjacent to tracks to promote horticulture and tree plantation. This will generate employment to underprivileged sections, augment food security and also prevent encroachment. Possibility of using these tracks for generating solar energy will also be exploited.
Indian Railways will use its vast physical infrastructure for commercial exploitation through advertisement and special focus will be given to exploit extra potential of stations, trains and land adjacent to tracks.
Railway budget also proposes overhaul of parcel business. Railways plans to liberalise its current parcel policies to increase the non-fare revenue and will expand its service offerings especially to growing sectors such as e-commerce.
This was stated by the Minister of Railways, Suresh Prabhu, in railway budget while stressing on the need for Indian Railways to increase the revenue through non-fare sources. Railways is planning to increase revenue through non-fare sources from current less than 5 percent to 10 percent in the next five years.
The Railway Ministry has initiated a major programme of station redevelopment to monetise land and buildings through commercial exploitation of vacant land and space rights over station buildings. Railways will also lease out the land available adjacent to tracks to promote horticulture and tree plantation. This will generate employment to underprivileged sections, augment food security and also prevent encroachment. Possibility of using these tracks for generating solar energy will also be exploited.
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Railways is planning to monetise the data collected on passenger preferences, ticketing, commodity, train running on various services and operations. IRCTC also offers opportunities of taking of e-commerce activities on large number of hits that it receives.
Indian Railways will use its vast physical infrastructure for commercial exploitation through advertisement and special focus will be given to exploit extra potential of stations, trains and land adjacent to tracks.
Railway budget also proposes overhaul of parcel business. Railways plans to liberalise its current parcel policies to increase the non-fare revenue and will expand its service offerings especially to growing sectors such as e-commerce.