Suggest an innovative solution for ‘How to Raise Money for Railways and Provide Better Services’ and come back with a Rs 10 lakh prize as winner of the competition floated by the Indian Railways.
To improve services, the Railways Ministry has turned to the public to suggest practical and cost effective changes.
The best solutions suggested which will enable the Railways to save money and increase revenues would be the ones considered for the prize money.
“The extra revenue earned by implementing an innovative solution would go a long way to provide better services,” say the Railway authorities.
Gross yearly revenues of Indian Railways over a four year period have been stagnant at around Rs 165,292 crore whereas the expenses at Rs 1.59 lakh crore are steadily rising.
For providing world class services, Indian Railways is looking for means and solutions to improve earnings.
Other than the first prize of Rs 10 lakh for the best solution suggested, there is a 2nd, 3rd, and a 4th Prize also to be won.
The 2nd Prize is worth Rs 5 Lakhs, the 3rd Prize is worth Rs 3 Lakhs and the 4th Prize has a cash award of Rs 1 Lakh
Receptive to good suggestions from the public the Railways authorities from time to time have been making improvements for serving the large number of passengers who travel by train regularly.
One such suggestion led to the installation of POS machines on trains, which saved passengers from being overcharged or not being given a bill.
Another change introduced was the separate ladies compartments, to ensure the safety of women commuters, who otherwise felt unsafe in general compartments.
The ‘How to Raise Money for Railways to Provide Better Services,’ contest is another effort by the Railway authorities to try and implement practical suggestions that are crowd sourced from the public and help the Railways to raise revenues for providing improved services. Those interested, can participate here.
The idea suggesting the innovative scheme or solution would have to put in a maximum of 1000 words, in either Hindi or English, which carries a 250 words abstract about it.
The write up would need to touch upon the ideal proposition to customers, its relevance and how it would improve customer experience. It would also have to defend the idea’s originality and how it could be implemented as a cost-effective project, with what constraints it could face.
The last day for entering the competition, open to individuals, companies and institutions, is 19th May.