(PTI)
The Ministry of Railways is having a rethink on flexi-fares and bringing in a dynamic pricing system that will help increase occupancy and enhance revenues, Railway Minister Piyush Goyal said today. Replying to questions in the Rajya Sabha, he also said his ministry was planning a major overhaul of the obsolete signalling system currently being used and to introduce latest technology.
During the Question Hour, some members raised questions about the flexi-fares, with BJP member Ram Vichar Netam saying there were times when the prices rose to a quite high level. In response, Goyal said a committee has submitted a report on how to dynamically price the train tickets which would also help improving profits.
Under this system, discounts could be given during the off season, the minister said, adding that the fares would automatically adjust themselves through artificial intelligence, algorithms or technology, to help trains have more occupancy, thus maximising revenues. “We have got a detailed report on how to make it a dynamic fares from flexi fares which will be decided according to the season and demand and supply…Sometimes the consumer may get tickets at cheap rates and sometimes a bit higher,” he said.
