Railway Minister Suresh Prabhu. (PTI File Photo)
NEW DELHI: With a decrease in freight and passengers earnings, Railways is all set to announce a series of measures which are expected to boost railway non-fare revenues within a year by nearly six times—from `300 crore to nearly `1800 crore.
Railway Minister Suresh Prabhu is expected to launch on January 10 series of policies that will look into different areas ranging from advertising in trains and other areas like bridges and other assets, setting up of ATMs at platforms, digital content and railway display network. He had announced a separate Non Fare Revenue (NFR) directorate in rail budget to look into other sources of revenues besides railways fares. Railway is likely to finish the tendering process for some of the policies related work by end of this financial year.
“There has been some delay in launch of the work under NFR. The revenue earning from NFR is expected to be less than the target this year but next year we hope to pick up,” said a senior railway ministry official.
Railways for the first time is exploring to monetise bridges, road over and under bridges, workshops and other units by offering it to companies for advertising. It also looking at selling available data like passengers ravel details, train timings and PNR information to companies, which is being used free of cost.
Based on third party assessment, railway is expected to earn `16,000 crore in next five year through non fare revenues. RITES, a central enterprise, in a study has found that railways has potential to earn `10,000 crore a year just by selling space for advertising in coaches, wagons and stations among others.
Source - New indian express