<p>Railway Minister Piyush Goyal on Friday said the ministry will rethink on current flexi fare and introduce dynamic pricing system on the lines of airline tickets.<br /><br />Replying to questions in the Rajya Sabha, the minister said a committee constituted to review the current system of flexi fare has submitted the report. The panel also mentioned about how dynamic pricing of train tickets would help improving profits, the minister said.<br /><br />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.<br /><br />Under the proposed system, when there were more vacant seats in train, ticket price will be less while during heavy demand, the prices will be more with some cap.<br /><br />The minister also said that his ministry was also planning a major overhaul of the obsolete signalling system currently being used and to introduce latest technology.<br /><br />"We are looking at transforming the entire signalling system of 1,10,000 plus line kilometers of the railways in the next five to six years," the minister said adding that once this task is completed the national transporter can increase its efficiency.<br /><br />To another question, Goyal said the railways were not in losses and several measures were being taken to increase efficiency which will help the Railways to improve its profitability.</p>
<p>Railway Minister Piyush Goyal on Friday said the ministry will rethink on current flexi fare and introduce dynamic pricing system on the lines of airline tickets.<br /><br />Replying to questions in the Rajya Sabha, the minister said a committee constituted to review the current system of flexi fare has submitted the report. The panel also mentioned about how dynamic pricing of train tickets would help improving profits, the minister said.<br /><br />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.<br /><br />Under the proposed system, when there were more vacant seats in train, ticket price will be less while during heavy demand, the prices will be more with some cap.<br /><br />The minister also said that his ministry was also planning a major overhaul of the obsolete signalling system currently being used and to introduce latest technology.<br /><br />"We are looking at transforming the entire signalling system of 1,10,000 plus line kilometers of the railways in the next five to six years," the minister said adding that once this task is completed the national transporter can increase its efficiency.<br /><br />To another question, Goyal said the railways were not in losses and several measures were being taken to increase efficiency which will help the Railways to improve its profitability.</p>
