Zonal Railways to get more financial powers

By Our Special Correspondent

NEW DELHI, SEPT. 21. In a landmark decision, the Ministry of Railways today decided to give more financial powers to the Zonal Railways and production units.

The general managers of the nine Zonal Railways will hereafter be able to finalise and enter into contracts in respect of sanctioned works and purchase of stores up to Rs. 15 crores for each contract. Hitherto, the limit was Rs. 8 crores for each contract. According to an order of the Railway Board, the enhanced financial limit would also apply to stores contracts.

Stressing upon the need for decentralisation of decision-making and implementation process, the Railways Minister, Mr. Nitish Kumar, had recently said it would help in completion of projects, including those related to safety, within the shortest possible time.

Today's decision would enable the Railway Board to focus on policy-making, monitoring and evaluating aspects of the railway projects. The decision also assumes significance in view of the setting up of the Rs. 17,000-crore Special Railway Safety Fund as it would help in completion of various safety related projects without the loss of precious time in procedural matters.

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Section  : National
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