The Union Railway Ministry has decided to create a 1 lakh crore rupees safety fund named Rashtriya Rail Sanraksha Kosh to strengthen safety measures on the rail network to prevent accidents.
• It was announced by Union Railway Minister Suresh Prabhu in the Lok Sabha while replying to a debate on Demands for Grants for Railways for 2016-17. In this regard Union Railway Ministry has forwarded a proposal to the Union Finance Ministry for approval.
• The Rashtriya Rail Sanraksha Kosh will be a non-lapsable fund which will be utilised for safety measures.
• The fund will help Indian Railways to accomplish its zero-accident mission by strengthening the safety measures on the rail network in a comprehensive way.
• Under this fund, envisaged works like track renewal and upgradation, bridge rehabilitation, elimination of level-crossings, construction of road over bridges/road under bridges will be under taken.
• It will be also used for replacement and improvement of signalling system, improvement and upgradation of rolling stock, replacement of electrical assets and human resource development.