Indian Railways non-fare revenue jumps 70% to Rs 10,181 cr
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The share of non-fare revenue (NFR) in total income of Indian Railways rose to 6.17% in FY17 compared with 3.62% in the previous year. In absolute terms, NFR jumped around 70% in the last fiscal to `10,181 crore on the back of a policy thrust to this segment.
The Indian Railways’ total income for 2016-17 stood at `1,65,068 crore against a revised target of `1,72,000 crore.
While the passenger segment has been able to garner `46,279 crore for the last fiscal, the goods segment registered a revenue of `1,04,310 crore. The revised target for passenger and goods segments were `48,000 crore and `1,08,900 crore respectively.
In January 2017, railway minister Suresh Prabhu had launched various policy initiatives to increase non-fare revenue. These include out-of-home advertisement, content on demand, branding of trains and ATM policy, among others.
Indian Railways expects to earn `3,475 crore each year from these non-fare revenue initiatives which also include rail radio, integrated mobile app and railway display network, among others. In total, the non-fare initiatives are expected to fetch `18,450 crore over the next five years.
Indian Railways last financial year introduced differential pricing in select premium trains, added 1.01 crore berths and introduced new train categories to add to passenger revenue. It also introduced various measures on the freight side such as discount for long lead goods movement, time-tabled trains, waiver of port congestion charges, among others.
However, despite both passenger traffic and goods loading increasing on an originating basis for 2016-17, targets have been missed. While the national transporter carried around 8,219 million passengers in 2016-17 compared with a target of 8,182 million (RE) and 8,151 million achieved in 2015-16, freight’s revised target for 2016-17 of 1,094 MT was surpassed with actual loading of around 1,109 MT and 1,104 MT a year ago.
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