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

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New Delhi | Published: October 26, 2017 5:23:23 AM

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.

Piyush Goyal, Rashtriya Rail Sanraksha Kosh, Rashtriya Rail Sanraksha Kosh , railway minister, rail safety fund, indian railwaysThe 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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