Switching over to e-auction has brought good results for Indian Railways as it has earned over Rs 2,119 crore from leasing of various assets across the country, through the online bidding.
The national transporter has leased out 23,309 assets through e-auction and earned Rs 2,119.06 crore as on 19 December, 2022.
Earnings from scrap sales has also gone up many times with the entire exercise going online bringing about transparency and faster pace.
The Railways earned Rs 3,414 crore from scrap sales during April-November period this year as against Rs 2,900 crore for the same period last year, an increase of 17 per cent.
The condemned rolling stocks including wagons, locos and coaches are sold in scrap. In a departure from the past practices, now the entire scrap sale exercise is being held through e-auction.
The scrap sale in November alone was Rs 444 crore as against Rs 403 crore in November last year.
The Railways is now offering its assets for advertising purposes besides many other options in rail premises such as setting up an automatic vending machine, battery swapping station, bottle crushing machine, electronic vehicle (EV) charging station, health kiosk, rail coach restaurant, vertical garden at station, and waste management at station, among others.
Earlier a contractor could avail the e-auction through SBI account only but now any bank account holder can participate in the online auction.
Kharagpur division has earned maximum through the e-auction, with total earning touching over Rs 177.29 crore till now, while Mumbai division has earned over Rs 169.38 crore and Delhi divison's earning touching over Rs 157.71 crore.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.