Railways mulls extra charges during festivals, discounts for odd-hour travels
Premium charges during festivals such as Diwali, Durga Puja and discounts for travelling odd- hours, choosing a less popular route or train or one having no pantry services, are some of the proposals the Railway Board is considering on dynamic-pricing.
During a meeting with senior officials last week, Railway Minister Piyush Goyal as well as the board underlined the need for flexible dynamic-pricing in order to offer competitive fares vis-a-vis airlines.
Three railway zones--the Eastern, the Western and the West Central--have prepared presentations, copies of which are with PTI, suggesting ways to introduce dynamic-pricing.
The zones have suggested that passengers be offered discounts on trains reaching destination at inconvenient times, for example between 0000-0400 and 1300-1700 hours.
They have also suggested that 10-30 per cent discount be offered for first leg as well as the last leg vacant berth.
The different zones have also proposed the railways go for premium charges (10-20 per cent additional) for peak days and festival seasons.
Since there is higher passenger volume on weekends and during festivals such as Diwali, Durga Puja, Chhath and Christmas, these periods could be earmarked for additional charges, the presentations suggest.
Passengers could also be asked to pay extra for choosing high speed trains over others on the same route.
The additional amount could be charged on per hour basis depending on the time a passenger saved while travelling in the faster train, the zones have suggested.
They have also recommended premium charges for overnight trains, trains with pantry cars, for allowing confirmed booking through e-auction a week in advance on popular trains.
Differential pricing for preferred berths like inside lower ones, cabins near doors on either side and an upgradation fee of Rs 20 per berth have also been suggested.
Officials in the Railway Ministry said a final blueprint for introducing dynamic-pricing through premiums and discounts will be finalised by December 31.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
11:57 AM IST