- First prize of Rs 10 lakh will be given to the one gives the best idea
- The other three prizes include Rs 5 lakh, Rs 3 lakh and Rs one lakh
- The deadline to submit form is May 19
Indian Railways Gives A Chance To Win Rs 10 lakh Via An Idea. 10 Things To Know
1. To be able to post the entries using the online application system, one should visit https://innovate.mygov.in where one has to click the "click to participate" button. The participant will be taken to a landing page featuring the registration form with various fields.
2. The participants will have to fill out a registration form and entry submission form. The submission should comply with the requirements as set out in the Guidelines mentioned on the online Entry Submission Form.
3. On successful submission, participant will receive a confirmation email. For any queries you can even email to email@example.com
4. The idea for improving the revenue of Indian Railways must be written in a maximum of 1,000 words while the abstract should be written in about 250 words. Any attachment, such as a PDF file or any power point presentation, can be sent as an attachment but should not exceed 8 MB in size. Value proposition to customers and relevance of the concept/ design in enhancing the customer experience has to be written in 150 words. Compliance to the boundary conditions has to be encapsulated in 250 words. The originality of proposed idea must be written in 150 words. The project's cost effectiveness has to be written in 200 words and possible constraints must be listed out in another 150 words.
5. Indian Railways gives a backgrounder for the idea. The railways ministry concedes that gross revenue of Railways was Rs 1,65,292 crore while working expenses for the year was Rs 1,59 lakh crore. The government has made an observation that the railways revenue has been almost stagnant for past four years, whereas the working expenses have been rising steadily. This has caused fall in investible surplus of Railways, thus affecting quality of services.
6: The Indian Railways competition is open to individuals and companies/ institutions.
7. The deadline to submit duly filed form is 6 pm of May 19.
9: To be able to judge an idea's worth, 30 percent weightage would be given to viability of project, 20 percent to revenue potential, 10 percent to customer convenience, 10 per cent to scalability, 10 per cent to cost effectiveness, 10 per cent to compliance of boundary conditions, 5 per cent to detail orientation and the rest 5 percent to quality of presentation.
Indian Railway has launched a Public Competition on “how to raise money for Railways to provide better services (जनभागीदारी)”. Participants can submit their entries by accessing the link https://t.co/dDVybgEaO3 with award money of ₹ 10 lakhs, 5 lakhs , 3 lakhs & 1 lakh.” pic.twitter.com/ddhZaeFGaP— Ministry of Railways (@RailMinIndia) March 23, 2018
10. Any communication with a participant will be done through an email provided by the participant at the time of filling the application form.