Date of Post: 09 July, 2018
New Delhi: Unable to get further allocations from the Finance Ministry under the Nirbhaya Fund, Railways is exploring the loan route to raise Rs 2,500 crore to install CCTVs at all stations and coaches to ensure state-of-the-art surveillance systems in the entire rail network across the country. The loan is to be raised through Indian Railways Finance Corporation (IRFC).
- It raises financial resources for expansion and running from the capital markets and other avenues.
- There is a total requirement of Rs 3,000 crore for the CCTV project, out of which Rs 500 crore has already been allocated by the Finance Ministry under the Nirbhaya Fund.
- A senior Railway official said,”While 436 stations are being equipped with CCTVs, 547 more stations would be covered under the Nirbhaya Fund this year.”
- The Budget for 2018-19 had approved CCTV systems in 58,276 coaches and 5,121 stations in the Indian rail network.
- However, the Railways could not get the Finance Ministry’s nod for further allocation under Nirbhaya Fund and was told to raise resources on its own.
- So it has been decided to raise Rs 2,500 crore through IRFC, with Railtel repaying the loan.
- Railtel, the telecom wing of the Railways, is responsible for executing the CCTV projects.
- Raising loan through IRFC will be preferable for the Railways as against taking market loan.
- 42,000 coaches and around 5,000 stations would be equipped with CCTV system to strengthen safety & security of passengers, according to a revised plan.