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Agenda
Qriusteam
1. Does Railways have a problem?
2. Has Railways tried to address these issues? And how?
3. Then why is Railways still facing problems?
4. Can the core constraints to implementation be weakened?
5. Rejuvenating brand IR & Ten-Rupee-Profit coaches
6. Alternate revenue streams for quicker monetization
7. The 10 paisa development charge
8. The Train Bazaar – opening a new product category
9. Summary and potential impact
Passenger business earnings haven’t grown significantly
considering inflation
The freight segment market share has declined in key
bulk commodities
Effective subsidy has doubled over the last 10
years*
• Decline in cement, POL, Iron & Steel largely due to challenges from road, pipeline and costal shipping
• Total losses incurred in the passenger business in 2009-10 is INR 20,000 Cr
• Nearly 90% of these losses were due to subsidy in the lower fare segments *
• Subsidy has increased keeping inflation in consideration
* Subsidy increased at average inflation rate of 8% over the last 10 years. Losses share percentage obtained from primary data
1 2 3
Performance review
1993-94 1994-95 2003-04 2004-05 2005-06
56.3
49.5
39.9 40.9 41.242.9 42.6
25.9 24.7 25.1
Cement POL2007-08 2008-09 2009-10
6524 6920 7246
19250
2187023420
Traffic Revenue
Indicators show that Indian Railways’ current operations are unsustainable
CAGR ~ 7%
1
Net deficit of around Rs 2,500 crore & operating ratio > 94%Expected to have a budget deficit of Rs 20,000 crore in 2012
This high subsidy has led to financial constraints
Thus only 13000 kms of new lines were added after independence losing the infrastructure edge India has over other Asian countries
Productivity of employees has stagnated Freight operations have not kept up with economy
•Network & employee productivity of Chinese Railways is more than double of Indian Railways
•This is mostly since IR has hired excess labor personnel
Productivity of employees has stagnated
•Roads account for 57% of freight as against 44% in US & 22% in China
•Maximum permissible axle loading is 22.5 tons as compared to 30, 32,5 and 37 in US, Australia and China
Freight operations have not kept up with economy
Most importantly, 2nd class accounts for >90% of passengers but is subsidized almost 100%
Indicators show that Indian Railways’ current operations are unsustainable 2
Productivity not keeping up with increase in effective subsidy• As compared with the increase in real wages of 108%, the increase in average productivity from 1982 to
1999 works out to 82 %
Strong labor unions and Govt. ‘model employer’ status mean that excess workers cannot be downsized• Pension outgo accounted for 10.5 paise out of every rupee earned by IR in 1998-99
All this leaves Railways with very little cash for investment to even raise capacity in profitable segments like freight (which are already running full capacity)
Effective subsidy is increasing because costs increase with inflation (reflected in pay commission wage rise) while prices static due to political compulsions
Four basic problems are causing the decline in performance
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4
Agenda
Qriusteam
1. Does Railways have a problem?
2. Has Railways tried to address these issues? And how?
3. Then why is Railways still facing problems?
4. Can the core constraints to implementation be weakened?
5. Rejuvenating brand IR & Ten-Rupee-Profit coaches
6. Alternate revenue streams for quicker monetization
7. The 10 paisa development charge
8. The Train Bazaar – opening a new product category
9. Summary and potential impact
IR has deep core capabilities that allow it to maintain large operations despite low passenger fares
Good at day-to-day operations at an extremely large scaleExperience in managing huge number of employees, labor unions, vast infrastructure base and extremely large number of customers
Well-trained and motivated work forceNew ideas from zonal officers were approved & implemented from the highest level e.g. branded train names, increasing wagon capacity
Good worker relationsLabor union supported increase in working hours for higher freight productivityDuring the super cyclone in Orissa, railway networks functioned while phone & mobiles faltered
Balance between customer, market & social focus
1
2
3
4
An exemplary large public sector organization with strong social focus
Indian railways is the only railways in the world charging extremely subsidized amounts and still providing extensive network of passenger trains to each and every corner of the
country simultaneously ensuring quality of service & employment for 1.4 million people
• World's third largest railway network under a single management
• Transports >23 MM passengers and >2.5 MM tons of freight daily
• World’s second largest commercial employer (1.4 MM)
• IRCTC is the most popular ecommerce website in Asia, in terms of total transactions
SCALE OF OPERATIONS
• One of the cheapest railways in the world with lowest operating costs
• One of the lowest number of accidents per MM train kilometers – Japan 0.63, Germany 0.82, France 0.87, Italy 0.65 and India 0.44 (2003)
• Extremely effective disaster management – service resumed in 12 hours after 2006 terrorist attack on Mumbai suburban trains
OPERATING EFFICIENCY
• Mumbai’s Deccan Odyssey and Maharaja’s Express rated among world’s best 25 trains by US-based global rail travel society for being some of the “most luxurious”
WORLD CLASS LUXURY TRAINS
IR has continuously innovated in last 10 years to increase revenue 1
FREIGHT
• High speed dedicated freight corridors• Containerization for seamless transfer• Integrated logistics hubs• Private container trains• 24 hour loading-unloading facilities • Private investment for infrastructure dev.• Increase in axle load from 20.5 to 22.9
SPEED & CAPACITY
• Door-to-door service for bulk & non-bulk freight including road transport, loading & unloading
• Wagon leasing services• Single window booking & faxing of invoice to
destination• Commodity specific concessions
EASE OF USE
• Increased corrosion resistance & size of wagons• Decreased turn-around time & weight of
wagons• Online parcel & wagon tracking• Terminal, rake & crew management systems• Web based claim management system
TECHNOLOGY UPGRADE
IR has continuously innovated in last 10 years to increase revenue 2
PASSENGER
MONETIZATION
• Increase in average speed of trains & number of express trains
• Garib Raths (25% less fare than AC)• Special holiday trains with dynamic pricing• Special Railway Safety Fund• Extremely quick disaster management• Track modernization & track maintenance
SPEED, CAPACITY & SAFETY
• Reduction in fares for AC 1st & 2nd class, no increase in fares of other classes for past 10 years despite 6% inflation
• Internet booking & home delivery in 181 cities• Train enquiry system for running status, PNR status & seat
availability status• Unreserved ticketing system• Scheme of Frequent Travelers• Mechanized cleaning of stations & coaches
SERVICE QUALITY
ORGANIZATION STR & HR
• Trains named after brands• Advertisements on trains, tickets, inside
coaches, on stations, on website and IVR • Railway Land Development Authority -
development of vacant Railway Land for commercial use for the purpose of generating revenue by non-tariff measures
• Productivity linked bonus for employees• Training for officers in foreign institutes• Catering outsourced to spin off (creating
internal sub-organizations)• Restructuring zonal and divisional org• Reduction in manpower from 1.65 to 1.4 MN
Agenda
Qriusteam
1. Does Railways have a problem?
2. Has Railways tried to address these issues? And how?
3. Then why is Railways still facing problems?
4. Can the core constraints to implementation be weakened?
5. Rejuvenating brand IR & Ten-Rupee-Profit coaches
6. Alternate revenue streams for quicker monetization
7. The 10 paisa development charge
8. The Train Bazaar – opening a new product category
9. Summary and potential impact
IR has the same core constraints as most government organizations in India
- Cross subsidization leading to loss of paying customers- Subsidy increases with inflation
- Lack of incentives for productivity, higher than market wages- Labor union protest against many necessary changed
- Favoring PSUs and indigenous suppliers- Capacity issue (e.g. wagon procurement)- Higher expenditure
- Colonial style hiring, few class I officers thus low management bandwidth- Benefits of scale not attainable despite large workforce if project management unavailable
LOWER INCOME GROUPS CAN NOT SEE SUBSTANTIAL COST INCREASE
GOVT AS ‘MODEL EMPLOYER’ WITH STRONG LABOR UNIONS
SOCIALISM IN PROCUREMENT NORMS LACK OF MANAGEMENT BANDWIDTH
These leads to some recommendations targeting fundamental problems not being implemented
Four fundamental recommendations dealing directly with continued financial and operational weakness have not been implemented
• Organizational restructuring– Separation of roles into policy, regulatory and management functions– Cross functional leadership team to champion transformation
• Reducing staff costs through 20% reduction in workforce– Spinning off ancillary activities– VRS scheme, normal retirement
• Tariff rebalancing in line with elasticity of demand – Increasing passenger fares (maintain ratio of 1:9 between fares of II
class and AC I)– No real increase in freight rates
• Compensation from GOI for investment and losses made on services provided at Government behest
Lack of Management
bandwidth partly responsible
Govt. as ‘Model Employer’ and labor
union resistance
Seen as adverse to social welfare for poorer sections
This would reduce subsidy, again seen
as anti-poor
We have created an approach to determine which of these constraints can be changed
Perceived negative impact on social
welfare
Deviation from existing government norms
Leadership Bandwidth
Govt as ‘Ideal Hirer’
Higher prices for lower income groups
Socialism in procurement
* Harvey balls indicate potential opposition from the government
Reasons these constraints need to be addressed
As can be seen, the best chance of weakening a core constraint is ‘Lack of Management Bandwidth’
How can we judge if these constraints can be changed
•Quick fixes for instant monetization do not solve underlying sickness affecting railways•Sickness is caused by these 4 constraints that must be weakened for sustainable operations
There are three main factors strengthening these constraints:
Whether changing it will be perceived as having a negative welfare effect
Whether change will conflict with existing govt. norms
Whether the issue is politicized at present
Implement-ability zone
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2
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Agenda
Qriusteam
1. Does Railways have a problem?
2. Has Railways tried to address these issues? And how?
3. Then why is Railways still facing problems?
4. Can the core constraints to implementation be weakened?
5. Rejuvenating brand IR & Ten-Rupee-Profit coaches
6. Alternate revenue streams for quicker monetization
7. The 10 paisa development charge
8. The Train Bazaar – opening a new product category
9. Summary and potential impact
Lack of management bandwidth can be targeted to increase Railways capacity to change and innovate
Learning for Indian Railways on innovation and change
Key
Que
stion
Key
solu
tion
Obj
ectiv
e
Cultural change through internal organizational restructuring
What can Indian Railways learn from big multinationals on constant innovation and change ?
• To promote the role of idea generator, innovation sponsors and project champion in the organization
• Indian Railways could have a dedicated Innovation Board for
-For forming project teams for implementation
- Qualified officers designated as sponsor for formalizing lower level ideas
How can Indian Railways change its culture of passive idea generation and development ?
• To train and promote cadres from entry level specialist roles to generalist roles to enhance project management and build leadership
• Separation of sub-corporations including manufacturing, particularly packaged goods freight
• Cadre silos only at lower hierarchy levels; generalist profiles after mid manager levels
1 2
Proposed organizational restructuring for Indian Railways to make organization dynamic
Ministry of Railways
Public Sector undertakings
/Corporations etc
Railway Board Innovation Board
Entry level cadres
Zonal Railways Production units Other Units
General Manager (Engineering Services)
General Manager (Operations)
General Manager (Finances)
Agenda
Qriusteam
1. Does Railways have a problem?
2. Has Railways tried to address these issues? And how?
3. Then why is Railways still facing problems?
4. Can the core constraints to implementation be weakened?
5. Rejuvenating brand IR & Ten-Rupee-Profit coaches
6. Alternate revenue streams for quicker monetization
7. The 10 paisa development charge
8. The Train Bazaar – opening a new product category
9. Summary and potential impact
Basis of brand rejuvenation is pride in the excellence Railways provides given the low fares
However, to do so it NEEDS A PRODUCT FOR 21st century that can provide the required ‘solid’, respectable service without being hobbled by an unsustainable subsidy
Railways is seen as a stodgy government organization that doesn’t innovate
•This is in spite of the fact that Railways has innovated significantly in last ten years
•Mass consumers are influenced by low service level in Passenger segment and newspaper reports
Railways has a perception of being unsatisfactory in sanitation and facilities•Expected, the unreserved class is highly loss-making so maintained badly, & other classes overpriced
Freight customers feel Railways is not market oriented or business friendly
•Mostly since freight is overpriced to subsidize low-income passengers
Why is the Railways brand suffering?Brand statement has to be based on actual
capabilities
Railways cannot change cross-subsidization and thus it will never provide service excellence at par with
the modern service economy
However, Railways does something incredible. It provides operations at a scale and cost that is
absolutely world-beating
It’s operational capability is remarkable and its workers genuinely motivated. They know they are a
part of nation-building
Thus, while Railways may not have service excellence, they are critical for millions of lives.
This should be the basis of rejuvenation
‘Indian poor’ is not a monolithic segment, 45% of households are Aspirers earning > Rs 7000 pm
It is important to recognize India’s poor are not a monolithic segment
Aspirer segment can & deserves to be upgraded from general compartment
India’s Aspirers are the new ‘aam admi’ and they want basic comfort and cleanliness
Willingness to pay can be driven by a promise to provide value for money
There is a market segment of 500 MN people who are poor, but are aspirational and want dignity – ‘Aspirers’ in Mckinsey pyramid – earning Rs 7,000-15,000/month
More than 80% of Aspirers have cell-phones
They seek professional positions, urbanization
Aspirer households are ~45% of India and will be so in 2020, Deprived will be ~30%
•Aspirers and Deprived are not differentiated by Railways offerings•90% of passengers travel in general & ordinary second class compartments•AC T3 & Sleeper overpriced to subsidize gen compartment, giving Aspirers little choice•Aspirers can afford to pay actual costs for transport, cleanliness, even AC, but they are very value conscious
The idea is to provide the best service possible for India’s ‘aam admi’ without subsidy.Air conditioned, clean coaches, both reserved and unreserved , with only Rs 10 profit/ticket
A rough calculation suggests that general compartment has avg. Rs 70 subsidy per ticketAdding Rs 50 for variable cost of AC & added cleanliness + Rs 10 profit would raise the average ticket
price by Rs 130. For example, for a 200 km ride, current general ticket price is ~Rs 50. This would become Rs 180 for 200 kms of travel
We feel this initiative can only succeed if it’s clear that the social aspect is maintained
Imagine an ‘aam admi’ making a purchase decision for upgrading his cell phone
The color phone is better than the black-white phone he has. But is it worth it? After all, such things are costly
Imagine if Nokia could assure him that they would make only Rs 10 profit on the phone. The upgrade is designed to give value for money. The decision then is easy
Nokia can’t do that easily. But Railways can make this kind of promise thus assuring customers they’re getting a good deal & increase willingness to buy
Aspirers form 45% of the popn., probably more than 60% of Railways customers
The branding statement of ‘Rs 10 profit’ will reduce political meddling in Pragriti fares
Thus, Pragriti coaches should form at least 20% of Railways capacity
It will usher in a new era and image of IR and be IR’s answer to economic progress
Pragriti Class: Ten-Rupee-Profit coaches; provide value-for-money, respectability & commitment
Doing so will radically change the image and finances for Indian Railways
•By 2020 there will >13 billion originating passengers in Railways•Railways should add capacity such that 20% travel in the Pragriti coaches and 70% travel in general/ordinary 2nd class as opposed to 90% in general/ordinary 2nd today•This will keep total subsidy same as today, while generating added revenue of Rs 46800 crore and profit of Rs 2600 crore
Pragriti coaches will go a long way in solving IR’s subsidy problem
This will be the basis of IR’s makeover to be relevant to a resurgent India
Can this be done?
We understand that Railways cannot remove any general compartment coaches to replace with a
more expensive option
However, Railways has to add capacity at >7% a year. This addition should be biased towards Pragriti
coaches such that 20% of Railways capacity in 6 years is Pragriti i.e. 40% of added capacity / yr
The real image problem Railways faces is because of poor conditions in General Compartment – IR has to understand this is because the aspirations
of India’s poor have changed
This ties into image in two ways:
The other big image issue is because of over-pricing of freight making IR seem inefficient when they actually aren’t – freight prices are kept high
to maintain subsidy
The idea of Pragriti Coaches is not to make money, but to change the capacity mix towards a more sustainable subsidy ratio allowing all of IR to
provide services at the desired level
This rejuvenation can be used for a branding campaign for IR
“Aapki har manzil tak aapka saathi”The idea is to focus on how IR plays a critical part in millions of Indians achieving their dreams
•IR does not provide service excellence per se, but it provides basic services at the lowest prices in the world
•This allows it to empower hundreds of millions of people across India to find work, study, do business, live life
•No other single organization in the world does this better than Indian Railways
•Thus, it is that empowerment that should represent Indian Railways
•The ads should show students, grass-root entrepreneurs, young professionals, doctors, nurses, teachers using Railways as a matter of course
•At the end, some statistic about IR’s impact should be shown
Why this focus? Example ad copy
A professional looking man helps a young man get a large sack into the general compartment
The man remembers how he started out as a trader of goods in his younger days, and similar train journeys
The man returns to his AC two tier cabin, smiling
Single stat showing number of people IR transports in a day shown against black background with punch-line
Agenda
Qriusteam
1. Does Railways have a problem?
2. Has Railways tried to address these issues? And how?
3. Then why is Railways still facing problems?
4. Can the core constraints to implementation be weakened?
5. Rejuvenating brand IR & Ten-Rupee-Profit coaches
6. Alternate revenue streams for quicker monetization
7. The 10 paisa development charge
8. The Train Bazaar – opening a new product category
9. Summary and potential impact
Alternate revenue streams can be generated by charging premium for services that are a choice
2
4
6
8
10
12
Net Profit (K Crore)
5.5
FY 10
~ 0.2
Option 1
IR Additional revenue streams
5.8~ 0.1
Option 2 FY 13
Allowing seat selection in the online booking portal. This feature can be charged at Rs 25 which primary data suggests is within willingness to pay. Assuming 20% of those reserving online use this, additional revenue (almost wholly profit) of INR 210 crore
OPTION 1: Seat selection
Offer superior food and bed linen at Rs 20 extra. Non-linear value increase will tempt people towards the higher value-for-money option. If 10% of non-general compartment travelers use this option it will lead to increased profit of INR 140 crore
OPTION 2: Food & bed linen
Railways can introduce choices in providing basic utilities, in line with its social
objectives, while charging a premium
2
4
6
8
10
12Net Profit (K Crore)
5.5
FY 10
~ 0.2
Option 1
IR Additional revenue streams
5.99~ 0.14
Certain small modifications to coaches can lead to further revenue enhancement
Option 2
~ 0.15
FY 13Option 3
• Small vendor stalls in trains by clearing the space of one side berth in two or three coaches in a train
• High premiums can be charged since there is a captive passenger audience on trains and the snacks are not ‘essential utilities’
• Capital investment of less than INR 2 Lakh per train
• Assuming 20% of captive of passenger audience would buy snacks worth an average of INR 30, expected revenue receipt ~ INR 2100 Crore *
• This would translate into an additional profit of INR 105 Crore
OPTION 3: Small vendor stalls in trains
* Assuming 1000 passengers per long distance train
Additionally IR can speed up the process of getting revenues from station development and advertising
•Average reserved price for advertising space of 2000 sq ft (i.e. 4 bogey faces) on one rake is nearly INR 5 lakh per annum*
•At 8 bogey per train of advertising space, and only 10% space successfully rented, Railways should make ~ INR 120 crore
http://www.eastcoastrail.indianrailways.gov.in/eastcoastrail/notice/1315832270743_CmmlExterior2nd2011TN.pdf
•12000 passenger trains each with 4 out of 18 bogeys painted as hoardings
•Railways has 7083 stations , with 6 metros and 24 tier 1 and 2 cities.
•The non-metros will have a maximum of 20 commercial paying INR 0.5 lakhs: totalling to INR 52.8 crore
•Altogether maybe INR 8 Crore per month
•Sums to INR 96 crores a year
• Metros are 6 stations only. With an average of 40 commercial set ups per station, each paying INR 1.5 lakhs a month, we generate INR 43.2 crores from the metros
Advertising Commercial establishment/land development
1) Increasing capacity in crucial corridors, that IR is already doing
2) Making freight rates competitive, that cannot be done without non-freight ways to pay for the passenger segment subsidy
We have consciously avoided freight proposals, since increasing freight revenues depends crucially on:
Agenda
Qriusteam
1. Does Railways have a problem?
2. Has Railways tried to address these issues? And how?
3. Then why is Railways still facing problems?
4. Can the core constraints to implementation be weakened?
5. Rejuvenating brand IR & Ten-Rupee-Profit coaches
6. Alternate revenue streams for quicker monetization
7. The 10 paisa development charge
8. The Train Bazaar – opening a new product category
9. Summary and potential impact
If Railways charges a 10 paisa/km ‘development charge‘ from all passengers it’s budget deficit is met
2nd class passenger subsidy is too high, and other classes’ ticket prices are already overpriced. Can 2nd class prices be increased without a blatant price hike?
Given the scale of IR, no indirect method will make up for the rising loss from this subsidy
How can fare rationalization as recommended by Expert Group be carried out?
The Expert Group recommends ticket price of lowest to
highest class as 1:9
Doing so would require 2nd class fares
to have a higher percentage rise
This will be seen as anti-poor and is
deemed politically indefensible
However, a per km charge will accomplish the same since it will result in a higher percentage increase for lower classes
The idea is similar to the ‘education cess’ that is used so successfully to raise funds for SSA
The charge per km of 10 paise is low enough to have a chance of being politically defensible
With 9,03,465 million passenger km, in one stroke
it will create the 10,000 crores Railway Minister says
will be the budget deficit this year
1
2
Agenda
Qriusteam
1. Does Railways have a problem?
2. Has Railways tried to address these issues? And how?
3. Then why is Railways still facing problems?
4. Can the core constraints to implementation be weakened?
5. Rejuvenating brand IR & Ten-Rupee-Profit coaches
6. Alternate revenue streams for quicker monetization
7. The 10 paisa development charge
8. The Train Bazaar – opening a new product category
9. Summary and potential impact
The Train Bazaar – having trains where coaches are shops, visiting each station once a fortnight for a day
Indian villages commonly have a problem that longer-lasting goods e.g. utensils, plastics, textiles, electronics cannot sell in enough volumes to have a permanent retail outlet
Indian villages do not have volumes to support full-time retail outlets for non-FMCG
Lack of a distribution channel also inhibits manufacturing for domestic market
For these goods villagers have to travel to nearby towns where there is sufficient population for permanent shops
However a travelling shop that comes once a month is sustainable
How can Railways reclaim its position as a cultural force? Can it directly target some deep social need?
The Train Bazaar – having trains where coaches are shops, visiting each station once a fortnight for a day
While this will make only modest profits, it can kick-start a consumption revolution
• Railways by its very nature and route connects a large number of villages through which a travelling shop can travel
• A station is a well-understood point of connection with the outside world
•We assume that for each village the businesses renting the coaches pay Rs 1000 •This generates an annual revenue of Rs 126 crore•Profit generated will be almost nil
Consumables that may be bought once a year by a
family e.g.. Utensils, plastic buckets, textiles, even
furniture, farm equipment, electronics and fertilizers
•A Bazaar train will travel on existing routes stopping at each village for 2 pre-determined days once a month•This will cater to the ~50 households around there
How will it happen? What will be sold? Will it make money?
Agenda
Qriusteam
1. Does Railways have a problem?
2. Has Railways tried to address these issues? And how?
3. Then why is Railways still facing problems?
4. Can the core constraints to implementation be weakened?
5. Rejuvenating brand IR & Ten-Rupee-Profit coaches
6. Alternate revenue streams for quicker monetization
7. The 10 paisa development charge
8. The Train Bazaar – opening a new product category
9. Summary and potential impact
Summary of our recommendations
Ten-Rupee-Profit coaches
Railway innovation board
“Aapki har manzil tak aapka saathi” – Indian Railways
10 paisa development charge
Train Bazaar
Charging premium on increased choice
Potential impact of our recommendations
Renewed self-respect and appreciation from public
Organization more participatory yet geared towards innovation and change
Passenger revenues enhanced with low capital cost
Train retail opened with the possibility of sparking a rural consumption revolution
Total profits increased by more than 13,000 crores
• According to Director Operations, Centre for Railway Information Systems, 17 million passengers travel every day by IR, of which less than 1 million travel on reserved tickets*
• Category wise profit loss report shows losses in almost all classes(except AC 3 tier and AC chair car).
• However, allocation of common costs such as labor cost (50% of Railway’s total working expenses), track maintenance, control lines etc. is skewed against passenger segment (3/4th thumb rule). Gross contribution of all passenger segments is believed to be in surplus
* http://www.cips.org.in/public-sector-systems-government-innovations/documents/The_Unreserved_Ticketing_System_Of_Indian_Railways.pdf
Category wise passenger traffic and fares
Typical Fares
Distance Class Total fare (Rs.)
100 km General Rs. 50
100 km Sleeper Class Rs. 120
100 km AC 3 Tier Rs. 230
500 km General Rs. 100
500 km Sleeper Class Rs. 215
500 km AC Chair car Rs.450
500 km AC 3 Tier Rs 575
1500 km General Rs. 180
1500 km Sleeper Class Rs.425
1500 km AC 3 Tier Rs. 1165
1500 km AC 2 Tier Rs. 1610