New Delhi: Stung by several train mishaps
in recent past, Railway Ministry is believed to have proposed
a hike in 'corporate safety fund' for the next 10 years to
upgrade its network and signalling system.
According to sources, Railways have proposed Rs 20,000
crore for the next 10 years as against as Rs 17,000 crore
fixed in 2003 when this fund came into vogue for utilisation
till 2013.
Out of the Rs 17,000 crore, the finance ministry
extended Rs 12,000 while the rest is being raised through
surcharges levied on sale of railway tickets.
So far, Rs 15,000 crore has been utilised, the source
said.
The proposal to raise the fund is believed to have
been taken at a meeting held recently.
Sources said, upgradation of tracks and signalling
system are some of the major areas where the fund is being
utilised.
The proposal comes in wake of Railways decision to
enhance its safety operations as enumerated in the Railway
White Paper tabled by Minister Mamata Banerjee last year.
PTI
First Published: Thursday, January 28, 2010, 23:05