The new rail safety fund called “Rashtriya Rail SanrakshaKosh” to be utilized for track improvement, bridge rehabilitation work, improved inspection work etc.
It is a non-lapsable fund created by Ministry of Finance, since the union and railway budgets will be merged for the first time.
It receives fund from this year budget allocation and also from the Central Road Fund.
The Central Road Fund is collected by levying Cess on diesel and petrol for safety-related work.
The Rail Safety Fund was setup based on the recommendation of a committee headed by Anil Kakodkar, former chairman of Atomic Energy Commission Chairman.