Indian Railways Start E-Auction For Transparent, Accessible System
Through e-auction portal, the bidder located anywhere in India can participate in the auction by any field
Indian Railways is promoting the new process of e-auction instead of the old process of tender to speed up the contract for earning from its various sources. Under this process, parcel leasing, parking, pay and use toilets, commercial publicity and ATM installation at stations etc. have been done through e-auction.
According to the Railways, in order to make the system transparent and accessible to all, it has brought commercial income and non-fare revenue contracts under the ambit of electronic auction through e-procurement system (IREPS). The e-auction portal has been launched by Indian Railways with the aim of promoting Digital India and digitisation.
Through e-auction portal, the bidder located anywhere in India can participate in the auction by any field, unit of Indian Railways by registering only once. The management rights of an asset can be bid for remotely after depositing the EMD electronically. Successful bidders are able to get approval online and through e-mail in very less time. No financial turnover is required for annual contracts up to Rs 40 lakh. It is very beneficial for small entrepreneurs and start-ups.
The e-auction portal has not only proved to be helpful in getting the actual value of railway assets, but has also increased the income of railways through this. East Central Railway has mapped a total of 1443 assets, which include 362 Parking lots, 233 Pay and Use, 287 Parcel Lease, 479 Advertisement Places (At Stations) and 82 ATMs. Since the launch of e-auction in June, 2022 by East Central Railway, 109 assets have been auctioned in just 2 months with a total contract value of Rs 34.27 crore.