CURRENT AFFAIRS

Detailed explanation-1: -The flexi fare scheme has been running on premium trains since 2016. In 2019-20, the flexi fare helped the Railways earn Rs 823 crore. From 2019 to October 2022, the scheme helped the Railways generate an additional revenue of Rs 2, 442 crore.

Detailed explanation-2: -Expects to end the year with earnings of Rs 2.35 trillion With three months remaining in the current fiscal year, Indian Railways has already surpassed its total earnings of financial year 2021-22 (FY22), the railway ministry said on Friday.

Detailed explanation-3: -Ahead of the Union Budget, the Railways on Thursday said it has earned Rs 41, 000 crore more in revenue so far in 2022-23 as compared to the same period in the previous fiscal. This year till date, the Railways earned Rs 1, 91, 162 crore compared to Rs 1, 48, 970 crore in the year-ago period, official data showed.

Detailed explanation-4: -Under the scheme, dubbed “Flexi fares” by railways, base fares will increase 10% with every 10% of berth sold, subject to a ceiling for 1.5 times the base fare, for most classes except third AC for which the ceiling will be 1.4. This means a half-empty train will still see fares at one and a half times current levels.

Detailed explanation-5: -This debate was sparked off by the flexi-fare scheme introduced by the national carrier in 2016 for the 142 “premium trains” such as Shatabdi, Rajdhani and Duronto. Under this dynamic pricing system, the base fare increases by 10% with every 10% of berths sold, with a limit set at 1.5 times the original price.