Indian Railways prize offer: Earn Rs 10 lakh, here's what you should do; check indianrailways.gov.in

Indian Railways prize offer: The good ideas would get a cash prize. The winner of the first prize will receive Rs 10 lakh, the second prize winner Rs 5 lakh, the third prize winner Rs 3 lakh, while the fourth prize is a sum of Rs 1 lakh. In order to post the entries, using online application system, you should visit innovate.mygov.in where you need to click the button "click to participate". This would take you to a landing page featuring the registration form with various fields.

This Indian Railways inspired competition is open to individuals and companies/institutions. The deadline to submit the entry is 6 pm on May 19. Image source: PTI

Indian Railways prize offer: If you are bubbling with creative ideas, you can earn Rs 10 lakh! All you have to do is suggest changes in the existing services of Indian Railways. This is a great opportunity to get rewarded and do a wonderful social service. You just need to participate in the competition 'How to Raise Money For Railways To Provide Better Services'. The competition guidelines suggest that a participant can send some practical ways to raise money to help it improve services. Check indianrailways.gov.in for latest updates. The good ideas would get a cash prize. The winner of the first prize will receive Rs 10 lakh, the second prize winner Rs 5 lakh, the third prize winner Rs 3 lakh, while the fourth prize is a sum of Rs 1 lakh. In order to post the entries, using online application system, you should visit innovate.mygov.in where you need to click the button "click to participate". This would take you to a landing page featuring the registration form with various fields.

You have to fill up registration and entry submission form, which should comply with the requirements as per the guidelines mentioned on the online entry submission form. After successful submission, you will receive a confirmation email. For any other query, you can even email to ps07@nair.railnet.gov.in. Your write-up on improving the revenue of Indian Railways should not increase the maximum word limit of 1,000 words, while the abstract should comprise about 250 words. Any attachment, such as a PDF file or any power point presentation, can also be forwarded as an attachment, but it should not exceed 8 MB in size. For customers, relevance of the concept/design in enhancing customer experience could be written in 150 words, while compliance to the boundary conditions must not increase 250 words. The original idea not exceed 150 words, while cost effectiveness of the project should be written in 200 words along with possible constraints in 150 words.

This Indian Railways inspired competition is open to individuals and companies/institutions. The deadline to submit the entry is 6 pm on May 19. The write-up can be submitted in Hindi or English. Further, 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.

Watch this Zee Business video on Indian Railways

Indian Railways, which has given a backgrounder for the idea, has conceded to the fact that gross revenue of Railways was merely Rs 1,65,292 crore, while working expenses for this fiscal needed is Rs 1.59 lakh crore. It may be noted that Railways revenue has been almost stagnant for the past four years, while working expenses are rising steadily, causing steep fall in investible surplus of Railways.

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