Special Railway Safety Fund (SRSF)
In the wake of the several mishaps, the Railway Minister Suresh Prabhu decides to approach the finance ministry for Rs. 1 Lakh Crore to set up a Special Railway Safety Fund (SRSF) and to launch a Zero Accident Mission. We note here that Indian Railways is currently cash stripped and will not be unable to mop up this amount or even part of it from internal resources.
Prior to this, in 2001, Indian Railways had received a 17000 Crore Non-lapsable SRSF (Special Railway Safety Fund). That fund was allocated for five years, but then was extended for seven years. It was mainly used to renew signalling system, track renewals and for rehabilitation of bridges. The current proposals also seek non-lapsable funds that can be used across years.