The central government on Wednesday informed parliament that Indian Railways is in the process of creating a massive fund worth over Rs.1 lakh crore to improve its safety standards.
According to Minister of State for Railways Manoj Sinha, the Railway Board has constituted a committee for putting up the consolidated proposals for creation of a 'Rashtriya Rail Sanraksha Kosh' (RRSK).
"Ministry of Railways has constituted a committee for creation of a RRSK amounting to Rs.110,237 crore," Sinha said in a written reply to a question in the Lok Sabha.
The minister elaborated that the committee has Railway Board executive director, civil engineering (planning), as convener.
In addition, the committee has as its members the executive directors of finance expenditure-I, signal (development), electrical energy management, mechanical engineering (project), directorates. .
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