Empowered Group for Privatization of Railways

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News: The Ministry of Railways will form an Empowered Group to oversee the entry of private operators for 150 trains and development of 50 railway stations as per global standards.

Facts:

Composition:

  • Panel will be led by NITI Aayog CEO Amitabh Kant
  • Other members of the panel will include Railway board Chairman, Economic Affairs secretary, Housing and urban affairs secretary and Railways financial commissioner.
  • Member (Traffic) and Member (Engineering) of the Railway Board will be members for their respective projects.

Tenure: The tenure of the panel of secretaries will be a period of one year

Responsibilities:

  • Approve and monitor the bidding process.
  • Take decisions to ensure the projects are awarded in a time-bound manner.