Study on Dynamic Pricing in Indian Railways


Authors : Chirag Dodeja, Aparna Suresh, Dhruv Mehta

Volume/Issue : Volume 2 - 2017, Issue 10 - October

Google Scholar : https://goo.gl/DF9R4u

Scribd : https://goo.gl/WL5HVk

Thomson Reuters ResearcherID : https://goo.gl/3bkzwv

The administration’s choice to present a dynamic valuing approach on trains is a positive development. The railways have undergone many years of low investment. Price hikes have not been considered for the advantage of the general population however, this has brought about the strain on the funds and wrecked the development process. In the budget speech by Railway Minister in February 2014, it was specified that a free Rail Tariff Authority is being set up to defend passages and there was a proposition to grow dynamic valuing of tickets in accordance with the aircraft business. Indian Railways presented a few premium trains with dynamic ticket valuing on IRCTC that can only be booked online. The dynamic charge design is like the one utilized by aviation industry running up with demand. The fare applicable to each day/transaction is showed at the time of booking on the IRCTC’s e-ticketing website.In 2006, Indian Railways chose to present a Dynamic Pricing Policy for freight and in addition for traveller, for peak and nonpeak seasons, premium and non-premium services, and for occupied and unoccupied routes. According to this strategy the rates for non-peak season, non-premium administration would be not as much as the general rates and the rates for peak season and premium administrations could be higher than ordinary.

Keywords : Pricing, Dynamic, Time, price, Constraints, Demand, Strategy.

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