Setup modern computerised goods carriage system
Exclusive tracks for carriage of goods.
Sell of old non usable rolling stock through computerised system

1.By selling scrap
2.Using railway lands to build commercial and offices spaces.
3.Print and digital ads in trains, tickets, bedding materials and platforms.
4.Using solar and other non conventional energy resources sell power to grid.5.Extending railway hospital services to general public with nominal fees. 6. Monetization of existing Wi-Fi hotspots in railway stations after a certain download limit.7.Apart from above railways need do research in improving efficiency of existing revenue

Just like paytm and mobikwik develop a App for getting tickets faster by giving money beforehand, and they need to just take the ticket and not pay the money at the time of generating ticket, less transaction failures at peak hours will help both railways and our citizens. Public will get great help.
Ticket Examiners shall be equipped with tablets and Bar code scanners to reduce revenue losses. This will also reduce the requirement of TTE's (less operation cost). Use technology to develop this

Unwanted trains shall be removed from the time table or its frequency may be changed as per the requirement. Seasonal trains mostly are not known to passengers because it is decided to operate just before the season, announce it before 3 months.
Operating Cost shall be reduced @ 3% per year make it a mission and invite ideas from bureaucrats and technocrats and give them incentive for there ideas, as they know the Railways very well.

Transportation of the seasonal fruits and diary products to remote places using A C wagons as per the requirement, just attach the wagons to the destined trains when requirement comes.
The Revenue generation system shall be streamlined to achieve higher growth by real time monitoring of its generation.
Spare wagons and Boggies shall be made available at major stations to accommodate long wait-listed passengers.

Indian Railways has many ways to generate revenues but most of them have been not updated, like the revenue through parcel of goods, it is par below than normal road transport, also try to increase the number of parcel wagons per round of journey, give importance to this many business flourish because of Railways, they can afford to pay a little more.

Share the Railway land with Post Offices, and PSU Banks at all the stations on normal market rates revenue will increase.

For waitlisted passengers there should be an optional subscription with a minimum cost which will update the passenger on daily/status change basis on the progress of the waitlist no. For example, for Rs 10 additional charges on top of ticket cost, the passenger will get SMS notification from IRCTC on his 1. WL status change or 2. daily basis even without status change till the date of journey or the passenger gets confirmed. This optional subscription will be given while purchasing the ticket.

Convert Railway stations to shopping Mall. Build shopping complex over Parking Area. All Major stations are having open parking Area. Those parking areas can be covered with Multiple stories buildings and can be used to for rent as offices, shops, eating places etc. Typical image of Railway station to be converted to multistoried building with floors for buses, taxis and market. Revenue earned can be used to develop facilities on Railway stations.

if govt not considering privatising railways, then become infrastructure provider,
(sell track usage time as with bandwidth) and permit private Cos operate under regulation and with profit sharing (a true 99 year PPP model). That will bring in efficiencies of time (performance) and space (land) and add-on services to the masses. Given scale of railways (over airlines), mass markets are serviceable at low cost under basic/mandatory provision plan/regulation.

Hawkers are occupying the Railway premises (open areas including foot overbridge). Railways may consider constructing Temporary / Permanent structures in their premises and let out the property to them. Subsequently ensure strict vigilance as to keep the other areas free for public movement.