CURRENT AFFAIRS

Detailed explanation-1: -Officials in the Railway Ministry said a final blueprint for introducing dynamic-pricing through premiums and discounts will be finalised by December 31.

Detailed explanation-2: -Indian Railways came out with the policy of Dynamic Pricing in 2016. Under this policy, the fares of the railway tickets are to increase by 10 per cent after every 10 per cent of berths or seats being sold. This helps the business organization to reduce losses by selling at a low price in a situation of low demand.

Detailed explanation-3: -Indian Railways Price/Pricing Strategy: Indian Railways follows a microeconomic pricing strategy where the distance travelled is same but at different price for different class of consumers. The services that are offered varies as per the class you book – sleeper class or AC class, etc.