New Delhi : The central government on Wednesday informed parliament that Indian Railways is in the process of creating a massive fund worth over Rs.1 lakh crore to improve its safety standards.
According to Minister of State for Railways Manoj Sinha, the Railway Board has constituted a committee for putting up the consolidated proposals for creation of a �Rashtriya Rail Sanraksha Kosh' (RRSK).
"Ministry of Railways has constituted a committee for creation of a RRSK amounting to Rs.110,237 crore," Sinha said in a written reply to a question in the Lok Sabha.
The minister elaborated that the committee has Railway Board executive director, civil engineering (planning), as convener.�In addition, the committee has as its members the executive directors of finance expenditure-I, signal (development), electrical energy management, mechanical engineering (project), directorates.(IANS)