The Indian Railways budget that has been presented in the parliament for 2016-17 has allocated Rs. 50 crore fund for startups. The ministry plans to launch an innovation challenge. It will be administered by an Innovation Committee which will comprise investors, representatives from National Academy of Indian Railways, Railway Board and headed by Ratan Tata.
A management structure will be decided for the initiative. The areas of the challenge will include: Accessibility to trains from low level platforms, increasing capacity of coaches, enabling stations digitally.
The budget has also added many technology enhancements.
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