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Centre publishes concept paper on Railways Authority
Posted on: 05/Jan/2016 10:46:31 AM
The Center has proposed a rail regulator that will fix fares and ensure a level playing field for private investment in railway infrastructure. The government has released a concept paper that will float the idea.
According to reports, the Railways Ministry plans to set up the Rail Development Authority of India through an executive order. As time goes on, its powers will be widen. The Authority will set passenger and freight tariff, ensure fair and level playing fields and will maintain performance and efficiency standards.
The paper says, `The Indian Railways would need to be compensated appropriately perhaps through increased allocations in the gross budgetary support. The Rail Development Authority would be an independent body, housed outside the Ministry of Railways but funded through the annual railway budget sanctioned by the Parliament. The approved Budget would be placed at the disposal of the regulatory authority. It would also be permitted to arrange funds through adjudication fees, penalties levied and any other source as specified in the proposed Act.` The Railways Ministry has published this concept paper on its websites to receive comments and suggestions on the same.
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