Better ways To Increase The Revenue Of Indian Railways
Better ways to increase the revenue of Railway.As we know that the Railways are the backbone of a country as it serves the nation towards economic development, prosperity and a vital mode of transportation of goods and passengers. likewise, the Indian railway has changed with the passage of time since its independence, however; the revenue it generates today is still a laggard for its progress and a serious concern for the health of Indian railway. the government’s apathy, opposition from other parties, industry bodies and the public which is a ticket to the parliament holds the government to take corrective measures to increase the revenue of this ailing Indian railway.
Financial Health Of The Railway
There are ways to increase the financial health of the railway but to satisfy each and every party, state, community, religion etc. take a toll on this sector so much that since independence it never recovered from losses in spite of better services it delivered to the nation and its people. however, there are responsible citizens who are willing to pay for world-class amenities and services at a reasonable cost that will help the railway too to become profitable and maintain its resources well. proper governance, mechanism, stringent rules and regulations for violators and co-operation from all will only help towards its success.
World 4th Largest Rail Network
Indian Railway has one of the biggest networks across the country and to maintain it to function efficiently and effectively without disruptions needs investment, manpower to run it smoothly. the fuel charge is the biggest challenge so the railway ministry should think of an economic alternative in consultation with concerned departments so that they can save revenue on this front. besides this, the passenger fares and freight charges should be reviewed at regular intervals and not just every year and be increased based on inflation but be limited so that it will not have any deep on the budget of the general public and the railway.
Proper Cross Checking Of Ticket In Indian Railway
The introduction of various cess and levies are routine features to generate revenues but they should serve the purpose and not just another mean to make a hole on public’s pocket. there should be proper allocation, distribution, and utilization of funds as well as monitor the same to prevent any misuse. there should be a proper check on touts and travel agents because of them the railway losses revenue, traveling without tickets should be dealt firmly. the use of digitization like apps which will give discounts, reward points, mileage etc. will encourage the passengers to use the official channels only and save money not for themselves but for the railway also.
Value Added Luxury Services
Indian Railway should also introduce value-added services for its passengers not just to travel from one place to another or for cargo. meals, fast foods or foods from 5-star hotels like it is served in airlines sector is another source of revenue, comfort and luxury with amenities like wifi, spacious seats etc. to various categories. another important factor is security and safety where no one is willing to compromise should be the priority and it will give confidence to the travelers and more and more people will prefer to travel by train.