Railways propose over Rs 1 lakh crore safety fund

NEW DELHI: Railway Ministry has formed a committee for creation of a safety fund amounting to over Rs 1 lakh crore, Lok Sabha was informed today.

The committee is likely to submit its report by December 31 this year, Minister of State for Railways Manoj Sinha said in written reply.

"Ministry of Railways (Railway Board) has constituted a committee for putting up the consolidated proposals for creation of a 'Rashtriya Rail Sanraksha Kosh (RRSK) amounting to Rs 1,10,237 crore," he said.

The committee consists of Executive Director/Civil Engineering (Planning), Railway Board as convener and Executive Directors of Finance Expenditure, Signal (Development), Electrical Energy Management, Mechanical Engineering (Project), Directorates of Railway Board as its members.