With reference to the Indian Railway Innovation Policy ldquo StartUps for Railways rdquo consider th...........

Economic Affairs Industrial sectors

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With reference to the Indian Railway Innovation Policy - “StartUps for Railways”, consider the following statements

Under this Grant up to Rs. 1.5 Crore to innovator on equal sharing basis with provision of milestone-wise payment is provided.
Complete process from floating of problem statement to development of prototype is online with defined time line to make it transparent and objective.

Select the correct statement.

1 only

2 only

Both

None

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Explanation:

Minister of Railways launched Indian Railway Innovation Policy - “StartUps for Railways”. Through this platform start-ups will get a good opportunity to connect with Railways.

Salient details of Indian Railway Innovation Policy are as under

Grant up to Rs. 1.5 Crore to innovator on equal sharing basis with provision of milestone-wise payment.
Complete process from floating of problem statement to development of prototype is online with defined time line to make it transparent and objective.
Trials of prototypes will be done in Railways. Enhanced funding will be provided to scale up deployment on successful performance of prototypes.
Developed Intellectual property rights (IPR) will remain with innovator only.
Assured developmental order to innovator.
De-centralization of complete product development process at divisional level to avoid delays.

Hence both statements are correct.