Broader contours of RRAI to be put online soon: Prabhu

The broader contours of the proposed railway regulatory authrority will soon be put online to seek the views of the stakeholders, Railway Minister Suresh Prabhu today said.

"We are working on the regulatory authority and soon we will put it online," the Minister said at a conference on Railways here.

While he did not elaborate further on the proposal, it is learnt that the existing Railway Act could be amended to set up the body with the powers of tariff regulation.

The establishment of the body was one of the recommendations of a committee headed by Niti Aayog member Bibek Debroy.

It had suggested its establishment as an independent regulator -- Railway Regulatory Authority of India (RRAI) -- with a separate budget and to be independent of the Ministry.

"The RRAI will have the powers and objectives of economic regulation, including wherever necessary tariff regulation, safety regulation, pair access regulation, service standard regulation, licencing and enhancing compensation and setting technical standards," it had said.

Speaking at the conference during which he inaugurated an 'International railway equipment exhibition', Prabhu batted for modernisation of Railways to address issues confronting the public transporter.

Referring to the Japanese cooperation in the modernisation effort, the Minister said Japan is a "natural partner" with which India is engaging.