Govt to constitute railway regulatory authority
Promising a productive growth to the railway sector of our country, the centre government has decided to constitute a railway regulatory authority, named Rail Development Authority. The new regulator is supposed to advise the railway ministry on the matters such as the ticket fare and other fees of the railway, quality and standard, and policies. According to the report, it will be an independent body and a huge sum of fifty crore rupee will be allotted to them. Anyway, it is said that the power to decide whether a certain recommendation should be taken or not will rest with the concerned ministry even though the ministry will not interfere in the day to day affairs of the regulator. Experts say that as the railway is looking forward in encouraging private investments in the sector, the new body may help to create a conductive platform in the sector for the private investors by recommending such policies which benefit the private sector as well as public sector. It is learned that the regulator is likely to analyse the data concerning the functions of the railway. According to the report, the regulator will have four members including the chairman and they will be appointed by a search and selection committee chaired by the cabinet secretary. It is expected that the central government can revive the struggling sector through this exceptional plan, which is aimed to be implemented through an executive order.
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