Railway Regulatory Authority Likely To Have Additional Powers After Name Change

Indian Railway Minister, Suresh Prabhu has announced that Railway Regulatory Authority will likely to be renamed as Railway Development Authority. This is because the department undertakes various development activities along with deciding the passenger fares, freight rates and much more. As per the railways minister, this regulatory body should directly lay down the framework of monitoring of passengers, Public Private Partnership projects, freight traffics and efficiency. Thus, the proposal is laid to change the name of this department so that it gains broad base for handling all the railway related tasks. 

This proposal will be implemented only after the suggestions from stakeholders and public for widening the responsibility and monitoring area. This draft is complete and will be soon presented for review. This decision is taken to make railways more dominating in deciding the major critical aspects and remaining as an independent regulatory body. Thus, this move will also attract private investment, which will enhance the beauty of railways services. This proposal will soon be presented in Parliament and is expected to be approved. The overall decision of this proposal is to improve the investment, as due to lack of finance railway is under strain.