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.
The applicant is required to assess the technical feasibility and market potential of the idea proposed and submit revenue estimates for the Indian Railways. The applicant is required to include relevant reference links, if any, pertaining to the idea proposed.The suggested ideas can range from improving commercial utilisation of space to increasing passenger experience in trains and at stations or any other avenue which can lead to substantial monetisation opportunities.
FIRST PRIZE06 LACS MAXIMUM
SECOND PRIZE03 LACS MAXIMUM
THIRD PRIZE02 LACS MAXIMUM
CONSOLATION PRIZES (THREE MAXIMUM)01 LAC MAXIMUM