Today's Cancelled Trains
revenue
08:06
Showing posts with label revenue. Show all posts
Showing posts with label revenue. Show all posts
Thursday, 8 November 2018
Tuesday, 3 April 2018
Thursday, 16 November 2017
revenue
19:09
The Rate Of Dividend Payable by Railways to the General Revenue be waived Off
The Rate Of Dividend Payable by Railways to the General Revenue be waived Off
Cabinet approves Resolution for adoption of the recommendations of the Railway Convention Committee (2014) as contained in their Sixth Report on "Rate of Dividend payable by the Railways to the General Revenues for the year 2016-17 and other ancillary matters"
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the proposal of Ministry of Railways to move a Resolution in both the Houses of Parliament adopting Railway Convention Committee (2014)'s recommendations that for the year 2016-17, purely as a one-time move, the Rate of Dividend payable by Railways to the General Revenues be waived off.
Source:PIBNEWS
Friday, 9 June 2017
revenue
08:23
Indian Railways -Growth
Indian Railways -Growth
Introduction
- The Indian Railways is among the world’s largest rail networks. Spread across 6,853 stations, the 108,706-km network enables the running of 11,000 trains on a daily basis. India's railway network is recognised as one of the largest railway systems in the world under single management.
- The railway network is also ideal for long-distance travel and movement of bulk commodities, apart from being an energy efficient and economic mode of conveyance and transport.
- The Government of India has focused on investing on railway infrastructure by making investor-friendly policies. It has moved quickly to enable Foreign Direct Investment (FDI) in railways to improve infrastructure for freight and high-speed trains. At present, several domestic and foreign companies are also looking to invest in Indian rail projects.
- The revenue generated by the Railways is expected to grow at 10 per cent in the next fiscal year 2017-18. The Union Budget 2017-18 estimated that the overall earnings will rise to Rs 189,498.37 crore (US$ 28.42 billion) in 2017-18, compared to Rs 172,305 crore (US$ 25.84 billion) in the current fiscal year 2016-17.
- Foreign Direct Investment (FDI) inflows into Railways related components from April 2000 to December 2016 were US$ 789.03 million.
- Following are some of the major investments and developments in India’s railways sector:
- A Universal Rail Mill worth Rs 1,200 crore (US$ 180 million) was inaugurated at Steel Authority of India's (SAIL’s) Bhilai Steel Plant by Mr Birender Singh, Union Minister of Steel, which will produce world’s longest single rail of 130 meters.
- The Indian Railways plans to set up a US$ 5 billion Railways of India Development Fund (RIDF) for investments of it projects.
- The Indian Railways is looking to award six tenders worth Rs 8,000 crores (US$ 1.2 billion), for setting up a country-wide electricity transmission network, as part of a strategy to reduce electricity bills.
- Mr Nitin Gadkari, Minister for Road Transport and Highways and Shipping, has stated that India will likely collaborate with Germany for projects worth Rs 1 trillion (US$ 15 billion), aimed at enhancing railway connectivity of Indian ports and identifying environment-friendly technology for scrapping of old vehicles.
- Mr Suresh Prabhu, Railway Minister of India, has unveiled Mission 41k initiative, aimed at saving Rs 41,000 crore (US$ 6.15 billion) on the Indian Railways' expenditure on energy consumption over the next 10 years by doubling the annual rate of electrification from 2,000 km to 4,000 km in the next two years.
- Bombardier Transportation, the rail equipment division of the Canadian firm Bombardier Incorporation, plans to participate in the bidding of upcoming Metro rail contracts of Mumbai, Nagpur, Pune, Bengaluru and Chennai, beside the expansion of a line in Delhi, in a bid to increase its revenue from India to US$ 1 billion by 2020.
- The Indian Railways is working on a new advertising policy aimed at installing 100,000 big digital screens at 2,175 railway stations across the country, which is expected to generate Rs 11,770 crore (US$ 1.76 billion) revenue by 2022.
- The Government of India plans to invest around Rs 330,000 crore (US$ 49.5 billion) for setting up three new arms of the Dedicated Railway Freight Corridors (DFC), crisscrossing the length and breadth of the country, in the next eight years.
- The Union cabinet has approved investments worth Rs 10,736 crore (US$ 1.6 billion) in five railway projects involving the decongestion of existing network by doubling and tripling of existing lines.
- The Indian Railways plans to deploy the European Train Control System (ETCS), aimed at preventing head-on collisions of trains, on 28 projects across the country in the next five years, thereby strengthening the safety of India’s railway network.
- Indian Railways have signed a Memorandum of Understanding (MoU) with Indian Space Research Organisation (ISRO) for developing applications and services such as warning systems for road users, geospatial technology for mapping assets of railways and real time train information system to track trains on real time basis.
- Toshiba Corporation of Japan plans to set up a facility in Hyderabad by April 2017 to produce railway systems electrical equipment, power conversion systems and train control systems that provide overall operation management, and hire over 100 employees by 2020.
- The Cabinet Committee of Economic Affairs (CCEA) has approved construction of six railway Lines and a railway bridge incurring a total outlay of over Rs 10,700 crore (US$ 1.6 billion) which will help to meet the growing needs for transportation of passengers and freight across several parts of India.
- The Madhya Pradesh government has obtained Rs 12,000 crore (US$ 1.8 billion) loan from Japan International Cooperation Agency (JICA) for its Bhopal and Indore Metro rail projects.
- Indian Railways has issued a Letter of Award (LoA) to US-based General Electric (GE) for a Rs 14,656 crore (US$ 2.19 billion) diesel locomotive factory project at Marhowra, and to French transport major Alstom for Rs 20,000 crore (US$ 3 billion) electric locomotive project in Madhepura, both in the state of Bihar.
- The Government of India will be spending Rs 850,000 crore (US$ 127.5 billion) over the next five years to modernise Indian Railways for which they have received a 30 year loan from LIC. The Cabinet also cleared the Rs 82,000 crore (US$ 12.3 billion) dedicated freight corridor for decongesting existing network.
- Encouraging private sector participation in Railways, Mr Suresh Prabhu, in his maiden Railway Budget, amalgamated public welfare with private investment. While investment through public-private partnerships (PPP) was increased to Rs 5,781 crore (US$ 867.15 million), several schemes for improving efficiency of the Railways were kept under this head.
- With the objective of cutting energy costs, the Indian Railways has signed a bilateral power procurement agreement with the Damodar Valley Corporation (DVC). Under the agreement, railways will buy 50 MW of power from DVC at Auraiya Grid Sub-station facilitated by Railways Energy Management Co. Ltd, a joint venture of the Indian Railways and RITES, a public sector unit of the Ministry of Railways.
- The Ministry of Railways has sanctioned implementation of Eastern Dedicated Freight Corridor (EDFC) and Western Dedicated Freight Corridor (WDFC) with freight train speeds of maximum 100 kmph.
Government Initiatives:
- Mr Arun Jaitley, Finance Minister of India, announced the following reforms in the Railway sector in the Union Budget 2017-18.
- The Government will provide Rs 55,000 crore (US$ 8.25 billion) towards capital and development expenditure of Railways
- A fund named Rashtriya Rail Sanraksha Kosh worth Rs 100,000 crore (US$ 15 billion) will be created, which will be directed towards passenger safety
- All the coaches of the Indian Railways will be fitted with bio toilets by the year 2019
- Railway lines of 3,500 kms will be commissioned in 2017-18.
- The other initiatives taken up by the Government are:
- The Railway Minister of India has launched the first phase of station redevelopment programme, covering commercial redevelopment of 23 out of 400 A1 and A category stations across the country.
- Union Ministry of Railways plan to cover the length and breadth of Arunachal Pradesh by rail network requiring an initial investment of around Rs 50,000 – 70,000 crore (US$ 7.4 - 10.4 billion)at an elevation range of 500 to 9,000 feet.
- The Ministry of Railways has signed a memorandum of understanding (MoU) with Italy-based Ferrovie Dello Stato Italiane Group, for technical cooperation in railway sector, especially in the area of safety.
- The Ministry of Railways has signed a memorandum of understanding (MoU) with the Ministry of Urban Development, under which railway stations in each city included in the SMART Cities and AMRUT scheme will be redeveloped to create an integrated public transit hub around the railway stations and encourage transit oriented development.
- The Government of India and The World Bank have signed a US$ 650 million loan agreement for the Eastern Dedicated Freight Corridor-III (EDFC-III) project, which is expected to enhance railway transport capacity, improve service quality and boost freight carriage on the 401-km- long Ludhiana-Khurja section of the EDFC, along with developing institutional capacity of Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) to build, maintain and operate the entire network.
- The Union Cabinet approved the merger of Railway budget with the Union budget, which is expected to help initiate revenue mobilisation and capital expenditure measures from the beginning of the fiscal year.
- The Cabinet Committee on Economic Affairs (CCEA) has approved nine projects worth Rs 24,374.86 crore (US$ 3.6 billion) for expansion of railway network and connectivity, which is expected to ease traffic bottlenecks and help the upcoming industries in the region and additional transport capacity to meet their requirements.
- Mr Suresh Prabhu, Minister of Railways, has launched free Wi-Fi facility at eight stations of Mumbai suburban railway network, which will provide high speed access network to all railway users.
- The state of Haryana has taken the lead among all states of India to partner with the Ministry of Railways in creating rail infrastructure, by formation of a Special Purpose Vehicle (SPV) between Haryana and Indian Railways, as announced by Mr Suresh Prabhu, Minister of Railways, and Government of India.
- The Indian Railways have finalised a policy to set up solar power plants on rooftops of railway premises, which will help to reduce dependence on fossil fuels by generating electricity from solar panels, as part of the Solar Mission of Indian Railways.
- Ministry of Railways has signed a Memorandum of Cooperation (MoC) and Memorandum of Understanding (MoU) with governments and national railways of Japan and Russia for cooperation in areas such as high speed corridors, speed raising of existing routes, development of world class stations, heavy haul operations and modernisation of rail infrastructure.
- The Railway Ministry plans to give a digital push to the India Railways by introducing bar-coded tickets, Global Positioning System (GPS) based information systems inside coaches, Information Technology (IT) integration of all facilities dealing with ticketing issues, Wi-Fi facilities at the stations, super-fast long-route train service for unreserved passengers among other developments, which will help to increase the passenger traffic.
- According to Mr N Sreekumar, Chief General Manager of Container Corporation of India Limited, the Indian Railways is coming out with a new rating system. Addressing an event organised by Indian Institute of Logistics, Mr Sreekumar said the government is going to restructure the railway board. He also stated that the total logistics sector in India would undergo a transformation with the east and west freight corridor coming into being.
- Promising "watershed development" of Indian Railways, Minister of Railways Mr Suresh Prabhu announced a series of reforms in the rail sector, including the introduction of remote sensing technology to improve safety, rail bookings on mobile phones and wi-fi at railway stations.
- State government of Maharashtra has planned to set up a Special Purpose Vehicle (SPV), Maharashtra Railway Infrastructure Development Company, with a view to ensure that the various development projects are completed in a time bound manner.
- A memorandum of understanding (MoU) and an Action Plan have been signed between the Government of India and the Government of China to improve technical cooperation in the railways sector, at delegation level talks between the two countries. Prime Minister Mr Narendra Modi and the visiting President of China, Xi Jinping, were present at the signing.
- The Government of India has cleared a proposal to allow 100 per cent FDI in railway infrastructure, barring operations, via the automatic route. FDI channelled through this route does not require prior government approvals.
- The Railway Board is considering the implementation of the 106 recommendations of the High Level Safety Review Committee (Kakodkar Committee) pertaining to general safety matters, empowerment at working level, vacancies in critical safety category, organisational structure, shortage of critical safety spares, human resource development with focus on education and training research, among others.
- The Union Cabinet has given its approval for establishing a new rail coach manufacturing unit at Kolar, Karnataka. The unit will produce 500 coaches per annum at a projected cost of Rs 1,460.92 crore (US$ 219.13 million). The Ministry of Railways will provide 50 per cent of the finances with the Karnataka government providing land, free of cost, and the remaining 50 per cent of the project completion cost with escalation.
- The Indian Railway network is growing at a healthy rate. In the next five years, the Indian railway market will be the third largest, accounting for 10 per cent of the global market.
- Exchange Rate Used: INR 1 = US$ 0.015 as on February 9, 2017
- References: Press Releases, Department of Industrial Policy and Promotion, Press information Bureau, Media Reports, Railways Budget 2016-17
Source:IBEF
Thursday, 20 April 2017
revenue
19:02
Innovation Challenge for Identifying New Non-Fare Revenue Sources for Indian Railways
15 FEB 2017 - 20 MAY 2017
Innovation Challenge for Identifying New Non-Fare Revenue Sources for Indian Railways
Background : In response to Hon’ble Prime Minister’s clarion call for innovation in Indian Railways under the Navrachna Initiative, Indian Railways has decided to conduct a public competition for ‘Identifying New Non-Fare Revenue Sources for Indian Railways’.‘.
Indian Railways primarily earns revenue by collecting passenger fares and freight. These are tariff earnings or fare-box revenue. All other earning falls in the category of the Railway's non-tariff earning or Non-Fare Revenue. It carries an immense market potential, if explored in a systematic manner.
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.
FAQ: FREQUENTLY ASKED QUESTIONS
COMMON QUESTIONS
Q.1: What is innovation challenge?
The innovation challenge is an effort to motivate the Indian Citizens to think and contribute in the development and value addition efforts of the country's main rail transport service provider. The competition encourages out of the box thinking and solutions for the current aspirations of the stakeholders.
Q.2: What are the areas proposed for innovation challenge?
Five specific challenges have been concurrently floated. The details can be seen on www.innovate.mygov.in
Q.3: What are the evaluation criteria for innovation challenges?
Evaluation criteria for each of the challenges have been framed to account for the main requirements of the particular challenge for the purpose of ensuring that the suggested idea is effective. They have also been published in advance to enable the participants to understand the importance of different parameters and submit their ideas/ write-ups accordingly.
Q.4: What type of Royalty or Benefits may I get, if I am individual and my idea is selected?
The winners shall get awards as detailed in the awards section of the competition. Any tax liability on award money shall have to be borne by the winners themselves. There is no additional royalty or benefit proposed to accrue to the winners, other than the awards. The participants are strongly advised to go through the Terms and Conditions laid out in the challenge.
Q.5: What is the feasibility of implementation of the proposed ideas for innovation challenges?
Feasibility of implementation is one of the criteria for judging the idea, given the prevalent environment conditions and existing legacy systems and skill levels of Railways.
Q.6: What are the possible constraints anticipated in development of the proposed innovation challenges?
Implementation of new ideas comes with its own sets of risks and hurdles. In certain cases, the participants are advised to comment on the potential hurdles anticipated and how the innovation proposes to overcome or sidestep them. The difficulties in implementation may arise from the environment in which the innovation is deployed, from the inherent nature of the technology used and maintained and conflict with existing usage pattern and maintenance skill. While there can be no exhaustive list of constraints, participants should thoroughly analyze the difficulties in implementation during the life cycle of the product.
Q.7: What are the maintainability criteria of the proposed innovation challenges?
The proposed idea should take into account the difficulties that may arise in maintaining the design. These difficulties may pertain to Accessibility, Ease of Replacement, Procurement of Spares &Consumables and the Skill required, among others. The participants should consider these issues in the design and elaborate how they have strived to account for these issues in their designs.
Q.8: What is Age limit for participants?
Participants (Individual/or in case of teams, the team leader) are required to be at least 18 years of age on the date of launch of the competition.
Q.9: In case of team project, what will be the size of team?
In case of team, total team members, including the team leader, should not exceed six.
Q.10: What are the Nationality criteria in Eligibility?
The challenge is open only to Indian resident nationals. In case of companies, majority of team members/shareholders are required to be Indian resident nationals.
Q.11: Who can't participate in the challenge?
The following persons and their immediate relatives cannot participate in the Challenge:
An employee of Indian Railways directly involved in execution and evaluation of the Challenge.
A member or employee of Knowledge cum execution partner/Organizer.
A member of the Evaluation panel, Experts and Jury for the Challenge.
Q.12: What will be the mode of entry?
The competition is designed as an online challenge. The following method applies:
For posting the entries using the online application system, participants are advised to go to https://innovate.mygov.in and click on the "CLICK TO PARTICIPATE" button. The participant will be taken to a landing page featuring the registration form with various fields.
Participant will have to fill out the Participant Registration form and Entry Submission Form. The submission must comply with the requirements as set out in the Guidelines mentioned on the online Entry Submission Form.
On successful submission, participant will receive a confirmation email.
Q.13: What will be the Entry Submission Fields and Size of file?
Q.13: What will be the Entry Submission Fields and Size of file?
The participants shall be required to submit their entries in the fields provided in the Entry Submission Forms limited to the number of characters prescribed as per templates. Drawings, if necessary, can be attached as PDF, but should not exceed 8 MB in size.
Q.14: What will be the preferred Language for submitting the write up?
The write up should either be submitted in Hindi or English. In case submission is in any other language, it must be accompanied with translations in either Hindi or English.
FAQS SPECIFIC TO INNOVATION CHALLENGE FOR "INNOVATION CHALLENGE FOR IDENTIFYING NEW NON-FARE REVENUE SOURCES FOR INDIAN RAILWAYS"
Q.1: What is Out-of-Home Advertising?
Out-Of-Home Advertising is monetisation of all advertising assets apart from the station area such as circulating areas of class A1-F stations, Road over Bridges, Road under Bridges, level crossing gates, Railway colonies, Railway workshops, Railway production units, Railway land along the tracks etc.
Q.2: What is Train Branding?
Train Brandingisthe internal and external advertisement of all trains.
Q.3: What is Rail Display Network?
Rail Display Network is a centrally controlled network of digital screens to be set up at 2000+ stations, disseminating Railway information and advertisement content, in various languages at the same time.
Q.4: What is Content on Demand and Rail Radio?
Content on Demand services consist of entertainment content which can be utilised by the passengers and shall be offered on stations and trains.
Q.5: What is Quick Service Restaurants (QSRs), Multi-Purpose Stalls (MPSs), ATMs at Railway Stations?
This initiative includes setting up of restaurants, multi-purpose stalls and ATMs at railway stations at major stations.
Q.6: What is Integrated Mobile Application (ticketing and integrated passenger services)?
A new mobile application to be launched by Indian Railways, creating a one-stop solution for provision ticketing and affiliated services.
Source:MyGov
Sunday, 16 April 2017
seventh pay commission
12:11
Railways spending more for every rupee earned
Railways spending more for every rupee earned
NEW DELHI: The operating ratio of the railways has witnessed a deterioration in comparison to previous fiscals indicating more expenditure and less saving for the public transporter, Lok Sabha was told today.
In the railways, an operating ratio of 80 per cent or lower is considered desirable.
An operating ratio indicates how much the railways spends to earn a rupee. An operating ratio of 94.9 per cent means that the railways is spending 94.9 paisa to earn 100 paisa (one rupee). A lower figure of operating ratio is therefore regarded better and is indicative of better financial health of the system.
The recommendations of 7th Pay Commission with regard to pay and pension were approved by the government for implementation during 2016-17 and accordingly, the operating ratio of railways in revised estimates 2016-17 was estimated at 94.9 per cent, Minister of State for Railways Rajen Gohain said in the House.
Implementation of 7th pay panel has affected the railways as its expenditure for pay and pension has increased considerably.
Gohain said the railways sought assistance from the Finance Ministry to meet the additional liability arising out of 7th Pay panel recommendations.
However, the Finance Ministry advised the railways to explore raising own resources for implementation of the recommendations.
Source:- Economics Times
Friday, 7 April 2017
revenue
19:22
Indian Railways Earnings and Passengers list increased
Indian Railways Earnings and Passengers list increased
07-04-2017
Press Release : · IR PASSENGER TRANSPORTATION AND PASSENGER EARNINGS INCREASED · ER CARRIED MORE PASSENGERS WITH INCREASED PASSENGER EARNING
·IR PASSENGER TRANSPORTATION AND PASSENGER EARNINGS INCREASED
·ER CARRIED MORE PASSENGERS WITH INCREASED PASSENGER EARNING
Kolkata, April 6, 2017:
For the first time in recent years, passenger transportation and passenger earnings have been significantly increased in INDIAN RAILWAYS during 2016-17.
PASSENGER TRAVELLED:
As many as 8221 million passengers travelled during 2016-17 in Indian Railways system as against 8151 million passengers in 2015-16. It implies that Indian Railways transported 70 million more passengers than that of the last year, signifying an increase of 0.89% over the last year (2015-16).
PASSENGER EARNINGS:
Passenger earnings of Indian Railways were estimated at 2000 crores more than that of last year. The total earnings were estimated to be around Rs.47,400 crores. THIS IS THE HIGHEST EVER PASSENGER EARNINGS OF INDIAN RAILWAYS.
TICKET CHECKING PERFORMANCE IN INDIAN RAILWAYS:
Indian Railways succeeded in detecting 9.75 lakhs more cases of without ticket or improper ticket holding passengers which is 6% higher over last year.
TICKET CHECKING EARNING:
Indian Railways succeded in earning 58 crores more from vigorous ticket checking drives than that of last year. Total earning from ticket checking is estimated to be Rs.950 crores which is the highest ever.
ER’S GROWTH IN PASSENGER SECTOR:
Eastern Railway is known as a passenger friendly Railway for its various passenger amenities.During 2016-17, Eastern Railway was succeded in carrying 118.34 crores of passengers resulting an increase of 1.28% than that of last year.
Duriing 2016-17, Eastern Railway was succeded in earning Rs.2572.89 crores which resulted to an increase of 4.72% of growth than that of the last year.
Tuesday, 21 June 2016
revenue
07:58
Railways to issue Tender for Vinyl-wrap Advertisements on Premier Trains to spur revenue
Railways to issue Tender for Vinyl-wrap Advertisements on Premier Trains to spur revenue
New Delhi: Ad-wrapped trains might soon replace the trademark red bogies of Rajdhanis with Indian Railways ready to issue tender for vinyl wrapping of premier trains to start with. Seen as one of the source of revenue, railways will allow advertisers to buy space on outer areas of trains for advertising.
Initially, railway is offering selected Rajdhani trains originating from Delhi for vinyl wrapping. Delhi-Mumbai Central Rajdhani and August Kranti Rajdhani from Nizamuddin to Mumbai central are two trains where tender for vinyl wrapping are expected soon. Next in line are Shatabdis running in Northern Railways.
Railways plans to offer vinyl wrapping option on all trains in future as according to a study by RITES, a Mini Ratna Central Public Service Enterprise under the Ministry of Railways, advertising on trains has a good potential to increase railways revenue manifold.
“Vinyl wrapping will also save the cost of painting of coaches and easy to maintain. The added advantage is it will catch eyeballs and industry will get a captive audience. We are trying to use all available railways resources to increase revenues. The idea is that railways income should not be solely dependent on freight and passenger fare,” said a senior railway officer.
There have been examples in the past where vinyl wrapping has been done on trains but Indian Railways is now planning to take it in a big way and has plans to wrap over 10,000 trains. RITES in a study has found that railways has potential to earn Rs 10,000 crore a year just by selling space for advertising in coaches, wagons and stations among others. But, Railway feel that the analysis is very conservative and actual revenues from these sources could be much higher.
Railway Minister Suresh Prabhu in his budget speech has focused on exploring non fare revenues for improving ailing railways. A non fare revenue directorate has been created in the Railway Board with a mandate for enhancing revenues by 10 percent to 20 percent from non-tariff sources.
The non-fare revenue directorate would look into areas like advertising at stations, commercial exploitation of vacant land and space rights over station buildings, advertising on coaches, monetization of soft assets, including generation of revenue from websites through advertisements, operation of pay and use toilets in land outside railway stations interactive services in railway premises and tourism.
Railway has huge potential to use its space for advertising as it runs 13000 trains per day on 63,000 kilometer of track and carries 23 million passengers – equivalent to population of Australia.
Source:RailNews
Tuesday, 8 March 2016
revenue
11:31
Indian Railways plans to import Crude Oil to improve Finances
Indian Railways plans to import Crude Oil to improve Finances
New Delhi: The Ministry of Railways has embarked on a drive to reform the financially struggling 160-year-old national transporter through a range of initiatives.
The plan, described by the Railway Board’s Financial Commissioner S Mookerjee as a “dream”, would be implemented over five years. It includes cost optimisation by importing crude oil and procuring refining capacity from oil marketing companies on lease, which would reduce diesel inventories by a third to a mere five days. The railways would raise additional revenue by focusing on export of rolling stock, expanding the freight basket and monetising its vast data bank.
“We are working on a policy that would allow 10 per cent of our rolling stock production capacity to go into producing and exporting rolling stock rather than having it in-house so that our production facilities also stand up on their own feet. We have a target of Rs 4,000 crore of exports by 2020, through exports of machinery and plant,” Mookerjee said.
Stressing on cost optimisation, he said reduction in expenditure by cutting down diesel inventories had given the railways relief of around Rs 2,000 crore. “We are also exploring a policy to procure crude oil and then take refining capacity on lease. This is a new thing we are trying to do from next year. This will be in addition to the savings from continued direct purchase of electricity,” he said.
Indian Railways consumes around 2.8 billion litres of diesel annually, costing Rs 18,000 crore (around 18 per cent of the net ordinary working expenses).
In addition, the transporter spends around Rs 12,300 crore annually to purchase 17.5 billion units of electricity. About 30 per cent of the fuel bill goes into paying state taxes.
Other initiatives on cards are setting up a dedicated planning and investment organisation for strategic appraisal of projects; redesigning the Railway Board by reclassifying Board Members as Member-Mechanical or Member-Engineering with a new classification on “functional lines” including Member-Freight and Member-Passenger; and creating new directorates for speed and information technology services.
To shore up revenues, the ministry would focus on monetising its data and Intellectual Property Rights (IPRs) and also revamp focus on advertising revenue. Further, the ministry might soon announce a revised freight tariff structure to claw back the Railways’ lost modal share in freight.
Mookerjee said the Railways’ total cost savings of about Rs 8,700 crore for 2015-16 announced in this year’s Budget was likely to go up to Rs 10,000 crore by the end of March 2016. The rail ministry also wants to tackle the Pay Commission impact of Rs 12,000 crore on account of salaries and another Rs 8,000 crore on pension payments by tapping into the debt service fund, which has a balance of Rs 4,000 crore, apart from the Rs 3,000 crore parked in the pension fund.
Source:RailNews
Source:RailNews
Friday, 26 February 2016
revenue
07:15
Non-Fare Revenue Sources will be increased from 5% to 10% by Next Five Years
Non-Fare Revenue Sources will be increased from 5% to 10% by Next Five Years
Railways to increase revenue through non-fare sources
The Minister of Railways, Shri Suresh Prabhakar Prabhu has said that Indian Railways will increase the revenue through non-fare sources. While introducing the Railway Budget for 2016-17 in Parliament today, the Railway Minister said that the current revenue through non-fare sources is less than 5% and it will be increased to world average of 10% by next five years.
The Railway Minister said that following initiatives will be taken to attain this:
1. Station redevelopment: A major programme of station redevelopment has been initiated to monetize land and buildings through commercial exploitation of vacant land and space rights over station buildings.
2. Monetizing land along tracks: Railways will 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.
3. Monetizing soft assets: Railways to monetize 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.
4. Advertising: Railways to use its vast physical infrastructure for commercial exploitation through advertisement. Special focus will be given to exploit extra potential of stations, trains and land adjacent to tracks.
5. Overhaul of Parcel business: Railways to liberalize its current parcel policies to increase the non-fare revenue. It will expand its service offerings especially to growing sectors such as e-commerce.
6. Revenues from manufacturing activity: Railways to put focus to increase productivity and better manufacturing practices to become a meaningful player in the domestic and international markets. It is aimed to generate annualized revenues of about Rs.4,000 crore by 2020.
Source:PIBNEWS
Thursday, 11 February 2016
revenue
20:13
Railways can earn extra revenue,Red Uniform clothing that carries advertisements
Railways can earn extra revenue,Red Uniform clothing that carries advertisements
Rail Budget might revamp coolie system with new name, trolleys and ads
Sources said Railway Minister Suresh Prabhu may elaborate on this in the Rail Budget, scheduled for later this month.
porters at railway station, kooli at railway station, suresh prabhu, coolie Porters (coolie) takes time off to watch the proceedings of the Railway Budget on a screen at the New Delhi railway station on thursday.
Porters at railway stations who precariously balance luggage on their head will soon be a thing of the past, with the Railways devising a plan to provide them with trolleys — like the ones available at airports — as well as a fancier designation, ‘luggage assistants’.
The bright, red uniform with a brass armband that porters — or coolies as they are popularly known — wear may also give way to clothing that carries advertisements so Railways can earn extra revenue, officials said.
Sources said Railway Minister Suresh Prabhu may elaborate on this in the Rail Budget, scheduled for later this month. “The intent is to leave no stone unturned to increase non-fare revenue,” said a senior Railway Board official.
The idea, sources said, has already been run past Prime Minister Narendra Modi, who told Railways to “learn from cricket, which has advertisements even on stumps”. The Railways also wants to do away with the term “coolie”, which many see as a throwback to colonial times. The ambitious plan to “monetise” porters across India has the potential to open up a revenue stream that has so far remained unexplored. Delhi alone has around 2,176 licensed porters at four major railway stations. While discussing the finer points of the plan, officials pointed out that not all stations in India will be compatible with hundreds of trolleys moving around on platforms. They also discussed customer complaints of porters regularly “over-charging”. Accordingly, the plan is being devised in a way that rolls out the process in a phased manner, along with tie-ups with advertisers. The pilot could be rolled out at New Delhi railway station, officials said. Since most porters are part of unions, taking unions on board will be essential if things are to go smoothly, officials said.
Saturday, 5 December 2015
revenue
21:24
EASTERN.RAILWAY EARNS ADDITIONAL REVENUE FROM SPECIAL TRAINS AND EXTRA COACHES
02-12-2015
EASTERN.RAILWAY EARNS ADDITIONAL REVENUE FROM SPECIAL TRAINS AND EXTRA COACHES
Ø39 Cash-coin & Smart card operated Ticket Vending Machines (Co-TVM) were installed to avoid long queue
Ø22 Janasadharan Ticket Booking Sewak (JTBS) are operating
Ø55 more JTBS sanctioned
Kolkata, 24 November, 2015:-
Eastern Railway earned an additional passenger revenue of Rs. 6.39 crore by carrying a total of 85,238 extra passengers, providing reserved accommodations in 105 trips of special trains during Summer & Puja rush from April to October, this year.
Besides, 27 additional coaches in different classes were attached permanently with various important long distance trains during April to October, 2015 to clear the additional rush of passengers. An amount of Rs. 33.86 crore additional passenger revenue will generate annually from these augmentation.
Moreover, for the convenience of passengers, 39 Cash-coin & Smart card operated Ticket Vending Machines (Co-TVM) were installed to avoid long queue in the booking counters at various stations. Further, to provide easy ticketing, 22 Janasadharan Ticket Booking Sewak (JTBS) are operating at various places and another 55 JTBS have been sanctioned during April to October, 2015.
Saturday, 14 November 2015
Southern Railway
23:48
Southern Railway reports 5.61% growth in revenue
Southern Railway reports 5.61% growth in revenue
Southern Railway has reported a revenue of Rs 4,546 crore during the first half of the current fiscal ended September 30, 2015, an increase of 5.61% compared to same period last year.
Revenue from passenger traffic increased by 11.3% to Rs 2,367 crore from Rs 2,040 crore, a year ago. "It has been a good year for us so far," said Vashishta Johri, General Manager, Southern Railway.
For 2015-2016, target set for Southern Railway was to achieve a revenue of Rs 9,070 crore, an increase of 19% compared to last year.
Johri said Rs 1,038 crore was allocated for gauge conversion, doubling and new lines, so far Rs 467 crore was spent.
According to him the average monthly number of passengers has increased to 68 million in September 2015 as against 64 million in April.
S Anantharaman, Chief Operations Manager, Southern Railway said that cargo originating loading reported a drop of 16% in the first half to 20 million tonnes due to diversion of cargo to other regions, including South Western Railway. However, there has been an improvement in coal loading.
The ministry has fixed a target to load 42 million tonnes of cargo for the current financial year and 349 million passengers, he said.
On MRTS work between Velachery and Guindy, Johri said that expansion was getting delay due to land acquisition in a stretch of nearly 500 metres.
"Earlier, the land owners were provided compensation. However, they have approached the Court for higher compensation. The matter is yet to be settled," he said.
Sunday, 4 October 2015
revenue
01:49
Where has 150 Million Indian Railway Passenger gone?
Where has 150 Million Indian Railway Passenger gone?
(Courtesy: Shri M.K. Jain is currently working as the Advisor at Delhi Metro Rail Corporation. A retired IRSEE officer on Indian Railways, Mr.Jain was graduated in Electrical Engineering from University of Roorkee in the year 1976 and joined Indian Railways in the year 1977 through UPSC exam of IRSEE-1976 Batch. Worked in different positions on Indian Railways and its PSUs. He last worked as the Director at IRIEEN until he got superannuated from Indian Railways on 30th June 2013).
There is disturbing news that Indian Railways has recorded a drop of 4.2% in the passenger traffic during the months of April-August during 2014-15 as compared to last year.
Indian Railway carried 343 Crore passenger this year as compared to 358 Crores last year during the first five months showing a drop of 15 Crores passenger.
Where has 15 Crore Indian Railway passengers gone? The possible reasons can be Mode of shift from rail to road – a warning for Indian Railways.
Here are some of the attributes for drop down in passenger travelling.
- Mode of shift from Rail to road – a warning signal for Railways
- Drop in economic activity – will certainly revive being cyclic
- Need for travel reduced – Information technology replaced the need
- Air fare becoming competitive with II AC travel: Nothing to worry
- Unwelcome gesture towards a passenger – a reason for changing attitude
- Uncertainty of confirmed reservation – a reason for improvement in IT
- Long journey time – unavoidable on date
- Heavy rush during peak hours – avoidable to some extent by operating longer trains
- Drop in passenger during non-peak hours as roads are also free – marketing effort may help
- Short distance passenger running away – a warning signal for Indian Railways
- A drop in bogus ticket bookings by Agents on IRCTC portal. Earlier lot of tickets were being booked by agents and being sold at higher price. However after IRCTC took stringent actions technically, bogus ticket bookings came down drastically.
If news clipping to be believed, the probable reason quoted by an official of Ministry of Railways are
- Drop in short distance passenger travelling in unreserved coach
- Ticket-less travel
From the above, it is clear that decline trend has already surfaced in 12-13 but IR continued in denial mood. What should be done? The probable reasons are
Mode of shift from Rail to Road
Road is a passenger friendly mode of transport. The passenger is attracted to rail for comfort, lower fare and safety. But he runs away from the railway station due to long queue for ticketing, lack of passenger information, late running, poor frequency and waiting at railway station etc. But this avoidable.
Drop in economic activity
This is a cyclic event and will again revive. But when revived, the passenger shall continue to look towards rail transport as the best mode of transport.
Need for travel reduced
It is not certain, but reduction in need for travel due to mass penetration of IT is certainly a welcome sign.
Air travel becoming cost competitive to II AC
Indian Railways can conveniently shift to III AC where the earning per coach is slightly more as compared to II AC. The fare of II AC Rajdhani is Rs 2860/- with number of berths 46 thus earning Rs. 131560/- per trip. The fare of III AC Rajdhani is Rs. 2080/- with number of berths 64, thus earning Rs. 133120/-. Indian Railway shall concentrate in segment where it is highly competitive as compared to Air, because in no way it can attract passenger from Air mode to Rail. The attractive segment for heavy demand is III AC, intercity travel upto 600-700 Km by day time fast or overnight train. Even with 160-200 Kmph speed band, it may be difficult to attract passenger from air to rail where the journey time involved is more than 16 hrs.
Unwelcome gesture towards a passenger
Except for high class travel, the passenger is not looked upon with respect and smile. The slogan of ‘touch and feel’ very popular during 2006-07 needs a relook.
Uncertainty of confirmation of ticket
This is the most important factor that is driving away the passenger from Railways. Is it really a rush or mismanagement? Why waiting list up to 100-200 gets cleared? Unless third party audit is arranged, the truth will never be known. This is the most important need but does not qualify as passenger amenity. An idea to address this problem is given later in the article.
Heavy rush during peak hours (Sub-urban traffic)
Only accustomed daily passenger utilizes the services during peak hours. No one else dares to venture rail travel during this period. Indian Railways is not showing any good intention to work for sub-urban daily commuters. This is mainly due to poor realization of cost due heavily subsidized monthly ticket. But it no way, IR can avoid it. Poor sub-urban services will only hamper running of other fast and freight trains on the system.
Non-peak hours
The passengers who don’t dare to travel by sub-urban trains during peak hours, also avoids during non-peak. The reason still is the uncertainty. He decides in favor of road due to frequency of service, availability of seat and dropping near to his house. Indian Railway will continue to lose this traffic unless dedicated efforts are made. Solutions are discussed in the end.
Short distance passengers are running away
This is similar to what has been stated in non-peak hours.
Where the solution does lies to look for passenger business growth?
There are three mode of passenger travel i.e. long distance reserved class, short or long distance unreserved and daily commuter. All passengers travel is equally important and most of the time it drives each other. A passenger dropping after long distance will need short distance travel to his house. Does Indian Railway really cares and connect for his last mile short distance travel? Certainly not. Indian Railways has been talking of inter-model transport system, but what about ease in intra-rail connectivity with facility of fare, timing, information spread etc.
Reserved Class travel
Using Information technology to benefit passenger and improving revenue
Passenger reservation system handles reservation of berth/seat for the intending journey. The process of reservation and cancellation is continuous. After the chart is printed, the train is handed over the TTE of the coach to check the vacant berths and allot thereafter. Here starts the leakage of revenue for IR.
Indian Railway does not have the information in its data bank about the utilization of the reserved seat-km capacity. Suppose a train travels for a distance of 1000 Km with 1000 seats in reserved SL coach than the capacity is of 1 million seat-km. What is the utilization?
A system shall be introduced in which each passenger shall confirm his intention of travel through mobile or by fixed or mobile machine installed at stations. The wait listed passenger shall also check-in indicating his intention of travel if a vacant seat is made available. The passenger reservation system shall update the position 10 minutes before the schedule departure of the train and allot vacant berths to checked-in wait list passenger. The train shall remain connected to PRS with facility for the passenger to search vacant berth/seat availability for any distance of travel. Imagine the e-taxi type mobile portal for the rail passenger wherein he fills-in his intention of travel and he gets the information of train lined up with vacant berths. This is the surest way to attract passenger towards rail transport with no hassle which he generally experiences at railway station.
The train shall remain on the PRS till arrival at destination.
NTES gives the position of the expected arrival of searched train from any to any station over IR within next two hours and imagine the delight of the passenger if it also gives the position of berth availability, class wise with fare!
Remove pantry cars
Indian Railways has introduced a concept of e-catering wherein a passenger can order his food need over mobile and which can be served to him at his seat at the stopping station. With this being the situation, IR shall make its intention clear of replacing the pantry cars by passenger carrying coach.
When airways has gone for no-frill fare and giving competition to railways, is it not prudent for Railways to also go for the system of serving food only on demand. With e-catering management, it is possible to serve the food of choice. There are enormous benefit to Railways with this change namely (a) reduced fare (b) fare competitive to airways (c) taking care of the biggest source of complaint at present (d) reducing wastage of food etc.
This is the biggest hindrance towards increasing the number of coaches in Rajdhani trains because two pantry cars are attached if the number of passenger coaches goes to 20. The engine and platform capacity exists to run 22 coach LHB Rajdhani trains and one can imagine the revenue boost with this measure.
Marketing of Trains
A passenger attaches his value by the train he travels. The most valued trains are Rajdhani, Shatabadi, Duranto and all other trains with numbering starting with 12…. The most poorly valued trains are special trains in which the passenger opts as the last resort. An innovative effort was initiated to start with premium trains by using released ICF coaches from Rajdhani type trains. Such trains were having a dynamic fare structure. But there can be another approach towards this. All special trains shall be booked three months in advance for end to end travel. The schedule train reservation shall start only 15 days in advance. The advantage is that the passenger whose travel plan is finalized much in advance gets confirmed reservation releasing pressure from the scheduled trains. With this dynamic fare shall be introduced on the conventional trains during festive season.
Air Conditioned travel for sub-urban passenger
There is continuous demand for AC coaches attached to sub-urban train but could not make it through yet. With the facility of mobile booking of vacant seat as given in para 1 above, a passenger ready to pay for main line train can avail such trains say at Kalyan-Mumbai-Kalyan, Borivali-Mumbai Central-Borivali etc. The trains are running almost 50% empty and IR can earn considerably by opening these berths for infrequent sub-urban traffic.
Unreserved Class Travel
There is no information available at any moment about the availability of space even to stand in unreserved coach. It is not for sure that the unreserved coach runs to optimum capacity all the time. There are special trains, the unreserved coach of which is not fully patronized. In case sufficient vacant space is available in general coach, the challenge is to communicate it to all the passenger intending to travel in that direction. It is necessary for a commercial staff to estimate the occupancy and update the status on UTS server. A mobile app similar to the one developed by e-taxi wherein the passenger on entering the data of his intended journey is given information about the approaching trains and status of unreserved coach about availability in four categories such as Heavy, Medium, Normal and thin etc.
Daily Commuters
The drop in traffic in this category does not bother Railways much. But it is an important link for the last mile connectivity. The road users can conveniently be attracted to avail non-peak services depending on direction and timings by providing hassle free ticketing, trolley or fixed rate by porters, escalators etc.
The implementation of above will bring in the turnaround of passenger business on Indian Railways
