Ways to Improve Indian Railways: More Revenue, Better Efficiency
Ways to Increase the Revenue of Indian Railway:-Non-fare revenue sources basket in a lot of opportunities for Indian Railways to increase its revenue and better the efficiency meted out to the customers. With fares being the largest source of revenue, the Ministry of Railways has taken an initiative much in its full swing to optimally monetize the entire system by means of non-fare revenues. A few doting initiatives already taken and can be taken have been listed below.
- Furthering Feedback, Raising Revenue
With the latest development of modifying the ICF designed conventional coaches, Ministry of Railways has surely stepped up its game. Accordingly, Northern Railway, as per the direction of Railway Board, came in collaboration with the Railway Design Centre Monitoring Committee (RDCMC) at National Institute of Design, Ahmedabad to pep up the color schemes of sleeper coaches.
Feedback from the customers, more so specifically aimed at the lower income earning class, will thereby manifold into more such coaches of different color schemes. As it goes- gold glitters please the eye, painting of coaches, revamping the station boards, adding colorful platform shelters, letting the big colorful ‘USE ME’ bins meet the passenger’s eye, out of the many other rich revamps will only instill a much needed customer feedback interaction. Such a conscious interaction will serve as a two-way route that will only further the usage of Indian Railways services and efficiently increase the revenue.
- Compulsory Cross Checking
Haven’t we all, sometime or the other, encountered that many a time women, young girls, even male adolescents for that matter are let off without being checked for tickets? Double checking, to say cross-checking of tickets- both for traveling purpose as well as platform tickets will ensure no defaulter is let off loose with free services at his/her dispense. Meeting stringent rules with such faulty actions will thereby have a way to for established and proliferated revenue for Indian Railways.
- Garnished Garbage
What meets your eye whence travelling and stuck at the outskirts of any Indian Railways station? A spread of uncultivated land? Let me further paint the picture- smelly field rodents hoping to and forth on the uncultivated railway track-sides trying to shelter themselves under that torn shred of smeared cloth; there is this one stray dog eating off from the human dump whilst the other rolls itself freely into the spread of mudded side-tracks. Seems familiar? We all have been there, haven’t we!
With precision and smart planning, the Ministry of Railways can make a conscious effort to monetize these uncultivated lands and instead spread them in a horticulture beauty. Food kiosks can be met out to private food agencies, thereby shelling in much reformed revenue. Public-Private sector collaboration can change the tone and implement efficient revenue for the Indian Railways. Self-supporting methodologies can be implemented where small-scale shopping centers, lending out contracts for the same to private firms will help commercialize and monetize the assets. Small-step models with a set number of station-remodeling will help further the revenue response.
- Breaking Barriers
Making youths a part of Indian Railways as much as in the form of direct employment or inception of ideas from their ends can certainly pave way for a better-graphed youth-oriented revenue increment. Targeting the youths and making them be more than an armchair activist, schemes and programmes can be meted out, focusing majorly on the involvement of conscious doers of the society. Isn’t it better to go out on a personal limb spreading around customer convenience based on demography?
With India having more than 50% of its population under the age of 25 and more than 65% under the age of 35, Indian Railways can bring out services that entice and gather the youth in collaboration. Breaking the age barrier can prove beneficial for targeting the revenue increment. One of the latest programmes led out by the Ministry of Railways was the inception of an idea(s) to help improve its revenue with a reward of 10 lakhs for the best idea. Ideas such as bringing in the usage of PoS or Point of Sale machines, bringing in electronic billing, and eliminating the act of being overcharged by vendors will further lead to more honest transactions and an increase in revenue with greater use of such services.
Undoubtedly, over the past few years, Indian Railways has gambled in a lot of services based on user feedback but still, there is a long track for it to traverse. Self-supporting methodologies, investment from the Indian Railways’ end to improve the overall travel experience, hassle-free travel experience for lower income groups out of the many others will surely help attain a stepping rise in its revenue increment.