Indian Railways to set up Rs 1.1 lakh crore infra, safety fund

By Sudheer Pal Singh  www.business-standard.com

Indian Railways is working on a proposal to create a mega fund by the name Rashtriya Rail Sanraksha Kosh (RRSK) with a corpus of more than Rs 1.1 lakh crore that will be used to implement its drive to upgrade the creaking rail infrastructure.

The rail ministry has set up a six-member committee headed by the executive director of the planning directorate to prepare a blueprint for the scheme, including sources of the fund and areas in which it will be utilised.

“The idea is to seek a bulk of this fund from the finance ministry which will be channelized for multiple projects.

This includes around Rs 40,000 crore for elimination of unmanned level crossings and replacing the old signalling and telecom infrastructure which are responsible for more than a half of train accidents,” a senior railway board official told Business Standard, on condition of anonymity. More info

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