IR very badly needs to adopt innovative marketing to get loadings and generate revenue by avoiding empty running of goods train in one direction. Discount scheme is artificial way to increase revenue by compromising profitability, as a result, the revenue surplus of IR may increase or may decrease as well.
Inadequate use of resources is an unforgivable sin for any cash strapped organisation and IR need to avoid as many losses as possible which it is bearing at present, by innovative means.
Tapping new kinds of high value freight through RORO, RailRoader...
more...

etc.
A very burning example is IR operating many premium trains like Shatabdies, Durontos, Expresses with very less coaches (as low as 5 coaches) which need to be rationalised.
Using end of train Telemetry instead of guards in trains is another arena where IR can save a lot
Rationalisation of subsidies/concessions through properly targeting it and avoiding ticketless travel