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  1. Rail safety fund of Rs 1L cr to be used in 2 years, says Piyush Goyal

Rail safety fund of Rs 1L cr to be used in 2 years, says Piyush Goyal

The proposed Rs 1 lakh crore rail safety fund — Rashtriya Rail Sanraksha Kosh — will be mobilised and utilised over the next two years instead of five years as envisaged earlier, railway minister Piyush Goyal said on Wednesday.

By: | New Delhi | Published: October 26, 2017 5:23 AM
Piyush Goyal, Rashtriya Rail Sanraksha Kosh, Rashtriya Rail Sanraksha Kosh , railway minister, rail safety fund, indian railways The railways has been under pressure to step up safety measures, given a spate of accidents including derailments and loss of lives due to stampede. (PTI)

The proposed Rs 1 lakh crore rail safety fund — Rashtriya Rail Sanraksha Kosh — will be mobilised and utilised over the next two years instead of five years as envisaged earlier, railway minister Piyush Goyal said on Wednesday. He also hinted at a downsizing of the Railway Board and allowing private entities redeveloping stations to mortgage the assets created by them. The railways has been under pressure to step up safety measures, given a spate of accidents including derailments and loss of lives due to stampede. “For safety-related initiatives, there is no shortage of funds. The dedicated safety fund that was expected to be used over a time period of five years may well be spent in two years now, if needed,” Goyal said.

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