(a) whether the Railways propose to issue bonds to generate money for taking up renewals and safety norms at the earliest in order to avoid recurring accidents;
(b) if so, the details thereof;
(c) if not, the reasons therefor; and
(d) the measures taken by the Government for generating money for safety work in Railways?
MINISTER OF STATE IN THE MINISTRY OF RAILWAYS (SHRI BASANAGOUDA R. PATIL)
(a) No, Sir.
(b) Does not arise.
(c) Renewals and safety related works are mainly financed
out of internal generation and Special Railway Safety Fund
and not market borrowings.
(d) Measures being taken are towards improving earnings
and controlling expenditure so as to improve the internal
generation, which funds Depreciation Reserve Fund and
Development Fund, the two funds from which works relating
to safety are mainly financed. Also Government has
approved the setting up of the Special Railway Safety Fund
of Rs. 17,000 crore in October, 2001, funded by grant of
Rs. 12,000 crore from General Exchequer and balance to be
raised as safety surcharge on passenger fares.