New Delhi, Mar 14: The Ministry of Railways has decided to create Missions headed by Mission Directors in each of the identified area for a three year term as per the recommendations of the Expert Group headed by Sam Pitroda on modernization and resource mobilization.
Announcing this in his rail Budget speech in Parliament today, Railway Minister Dinesh Trivedi said, the Directors will directly report to the Railway Board. Each Mission would be provided with appropriate budget and operational autonomy.
In addition, a High Level Committee will be set up to facilitate coordination amongst the Missions, fast-track implementation, and address bottlenecks coming in the way.
The Expert Group for Modernization of Indian Railways had recommended implementation of the modernization programme following a ‘Mission Mode' approach, with clear objectives, measurable milestones, tangible deliverables and well defined timelines.
The Group in its report submitted on 27th February, 2012 had provided a blueprint for the next five years for modernization of Indian Railways. The recommendations of the Group entail an estimated investment of Rs. 5.60 lakh crore.
Trivedi said, the Approach Paper of the Planning Commission to the 12th Plan, which is yet to be approved, envisages an investment of US$ 1 trillion in the infrastructure sector with half the investment of Rs. 25 lakh crore expected from private sector and remaining Rs. 25 lakh crore being planned by the government from its own resources.
He said that Railways being a key transport and big infrastructure sector for the nation, must attract at least 10% of the government share of investment i.e. about Rs. 2.50 lakh crore during the 12th Plan period.
Trivedi said, the 12th Plan investment proposed by Railways at Rs. 7.35 lakh crore represents a quantum jump over the investment during 11th Plan of Rs. 1.92 lakh crore. The required resources for the plan are proposed to be met by:- (a) Gross Budgetary Support of Rs. 2.5 lakh crore; (b) Government support for national projects of Rs. 30,000 crore; (c) Ploughing back of dividend of Rs. 20,000 crore (d) Internal Resources of Rs. 1,99,805 crore (e) Extra Budgetary Resources of Rs. 2,18,775 crore , and (f) Railway safety Fund of Rs. 16,842 crore.
Following measures were announced for resource mobilization:
· Indian Railway Station Development Corporation to be set up to redevelop stations through PPP mode.
· Logistics Corporation to be set up for development & management of existing railway goods sheds and multi-modal logistics parks.
· Private investment schemes for Wagon leasing, Sidings, Private Freight Terminals, Container train operations, Rail connectivity projects (R3i and R2C-i) being made more attractive to PPP partners.
· New Board Member (PPP/Marketing) to be inducted