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.
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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.