New Delhi: The Lok Sabha on Wednesday passed Railways Amendment Bill. Railway Minister Ashwini Vaishnaw assured the House that the Bill is not aimed at privatisation of the national transporter.
Dismissing some MPs claim that the Railways Amendment Bill will lead lead to the national carrier’s privatisation, Vaishnaw addressed the Lower House saying a fake narrative is being afloat that the amendment would privatise railways.
“Their (opposition) fake narrative on Constitution has failed… now this will also fall flat,” he asserted.
The Railways Amendment Bill was passed by a voice vote after a debate. The debate was scheduled to take earlier, however, it got delayed due to repeated disruptions of the Lower House proceedings during the last week.
“A few members have said the Bill will lead to privatisation of railways, an attempt has been made to set a fake narrative. I want to appeal to them with all sincerity not to do this, their one fake narrative about the Constitution has already failed,” Vaishnaw said.
The Railways (Amendment) Bill 2024 calls for enhancing the functioning and independence of the Railway Board. It was introduced in the Lok Sabha during the Monsoon session of Parliament.
Railways Amendment Bill, 2024 details
The Bill seeks to repeal the Indian Railway Board Act, 1905 by suitably incorporating the provisions for constitution and composition of Railway Board into the Railways Act, 1989. The Railway Board is already in existence. The expenditure of Railway Board will continue to be met from yearly Budgetary provision under revenue Budget of Indian Railways as being done presently. The Bill does not propose to create any new Board or body resulting in additional financial implication.
The provisions regarding the terms and conditions of service of the Chairman, Members of the Board, Secretary and the officers and other employees’ are already in place and no change is proposed in the proposed Bill. These provisions may result in expenditure in the discharge of statutory functions of the Government in regular course of business, which would be met from yearly budgetary provision under revenue segment of Railway’s budget. However, any additional financial implication at this stage is not quantifiable.
The Lok Sabha passed the Railways Amendment Bill, 2024. Railway Minister Ashwini Vaishnaw clarified that the bill aims to enhance the Railway Board’s functionality and independence, not to privatise Indian Railways. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
