NITI Aayog is working on a strategy for Indian Railways to bring in cash from sources other than fare.The agency is planning to focus on asset monetisation, public-private partnerships in station redevelopment, and identifying fresh revenue streams.The government’s think-tank has invited proposals to carry out a research study on how Indian Railways can boost its earnings from sources other than fares.The move comes as part of efforts to make the rail network more financially sustainable and less dependent on traditional income from freight and passenger services.Indian Railways earned Rs 686.86 crore from non-fare revenue in 2024-25, up from Rs 588.07 crore in 2023-24. However, this accounted for just 3% of its total earnings, a stark contrast to 34% for Germany’s Deutsche Bahn, 30% for Japan Railways, and 10% for France’s SNCF.“Indian Railways (IR), a vital backbone of India’s economy, primarily generates revenue from freight and passenger operations. However, in line with the vision for a self-sustaining and commercially vibrant railway network, non-rare revenue (NFR) generation has emerged as a crucial strategic focus,” the statement said, cited by ET.The study will be conducted over a period of six months from the date it is awarded.The study will carry out an in-depth, data-driven analysis to identify and recommend practical strategies for boosting Indian Railways’ non-fare revenue, in line with NITI Aayog’s vision of better resource use and faster economic growth. It will also review existing non-fare initiatives, highlight underperforming assets, and examine why they haven’t delivered expected results. As part of this, the study will assess untapped potential in railway assets, such as land alongside tracks, underused station platforms that could host commercial activities like coaching centres or small events, airspace above stations, trains and coaches, as well as digital infrastructure like monetising Wi-Fi and using data analytics.Additionally, the government agency will explore opportunities for new revenue-generating services such as specialised logistics and warehousing, last-mile connectivity, value-added passenger offerings, tourism packages, and better utilisation of railway assets.Sustainable initiatives, such as solar power generation on railway land or rooftops, and waste recycling units, will also be evaluated for their revenue potential.