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Railways' Untapped Data Goldmine: Prabhu Sees Billions
20 Nov
Summary
- Indian Railways generates vast data that can be monetized.
- This data monetization could yield tens of thousands of crores.
- Railways should diversify revenue beyond freight and passenger fares.
Former Railway Minister Suresh Prabhu has asserted that Indian Railways possesses a treasure trove of non-classified data with significant monetization potential, capable of generating "tens of thousands of crores." He advocated for a comprehensive, long-term strategy to drive reforms within the national transporter.
Prabhu suggested that revenue should not solely depend on freight and passenger fares. Instead, Railways must embrace technology, data, and digital services to cultivate diversified income streams. He also pointed out that capacity augmentation is crucial for enabling private sector involvement, noting that many successful reforms during his tenure were based on this principle.
Furthermore, Prabhu underscored the importance of trust and delegation, stating that empowering general managers is essential for large-scale change. He also emphasized a structured approach to reform, beginning with clear problem diagnosis, which he credited for efficiency gains and improved passenger services during his time as minister.
