NITI Aayog has issued a request/ invitation for expression of interest (REoI) to conduct research on non-fare revenue (NFR) maximisation for Indian Railways (IR), with the objective of improving financial sustainability and reducing reliance on traditional revenue sources. The study aims to review the existing NFR landscape and explore new areas, including asset-based monetisation (railway land parcels along tracks, underutilised station platforms, air-space above tracks or stations, rolling stock, digital infrastructure, etc.), service-based monetisation (specialised logistics and warehousing, last-mile connectivity solutions, value added passenger services, tourism packages leveraging railway assets, etc.), partnership models [enhanced public-private partnership (PPP) models, integrated facility management, new commercial ventures, etc.], and sustainability-linked revenues (solar energy generation on railway land/roofs, waste recycling units, etc.). The last date for submission is August 5, 2025, and the duration of the study will be six months from the date of award.
IR generated a total of Rs 6.86 billion during the financial year (FY) 2024-25, up from Rs 5.88 billion in FY 2023-24, through NFR sources such as e-advertisements on railway overbridges, e-auctioning of monetisable assets, and the New, Innovative Non-Fare Revenue Ideas Scheme (NINFRIS). This accounts for just three per cent of total revenues, compared to around 30 per cent for developed countries such as Germany and Japan.