Railways offers Rs10 lakh cash prize for better business idea
28 Mar 2018
Indian Railways proposes to award cash prize of Rs10 lakh for a practical proposal that would help the Railways improve efficiency and performance, thereby bringing a turnaround in the fortunes of the country’s largest PSU.
The contest is in fact one way to address passenger resentment over poor services provided by the Railways.
Under the contest, participants will have to send a strong solution to the government that would address these issues and if it is practicable, then the proposer will be paid a handsome reward.
The name of the public competition is, “How to raise money for Railways to provide better Services (Jan Bhagidari).”
The aim is to encourage and refine ideas and put great strategies to work.
The contest is designed as an online competition and interested contestants can visit innovative.mygov.in to understand the requirements in detail before registering. Here is the tweet by the ministry of railways inviting entries.
@RailMinIndia: Indian Railway has launched a Public Competition on “how to raise money for Railways to provide better services”. Participants can submit their entries by accessing the link http://innovate.mygov.in/jan-bhagidari/ with award money of Rs10 lakhs, 5 lakhs , 3 lakhs & 1 lakh.”
The competition is open to individuals and companies or institutions. The participants are required to be at least 18 years of age. The evaluation of the entries will be carried out in three stages. In the first stage, 50 entries will be shortlisted after evaluation. And the 50 shortlisted entries will be further evaluated by an expert panel on second stage for selection 10 most promising ideas. The final 10 ideas will be presented to Competition Committee which is formed by the railway ministry for consideration of awards