Funds Operated In Indian Railways

Funds

• Pension Fund

• Depreciation Reserve Fund

• Development Fund

• Capital Fund

Pension Fund

• Created with effect from 1st April, 1964

Depreciation Reserve Fund (from 1st April, 1924 )

• Appropriation to Fund (deposit with the Central Government )– an amount equal to one-sixtieth the total capital-at-

charge till 1950 & later on as decided by conventions– contribution so made would be subject to the Vote of

Parliament through the "Demands for Grants" – Interest on balance

• Withdrawal from fund– The full cost of replacement of an asset whether

created out of capital or Development Fund is chargeable to the Depreciation Reserve Fund.

• Includes 630 lakh transferred from the Railway Reserve Fund after its closure

Development Fund

• With effect from the 1st April, 1950, incorporating the existing Railway Betterment Fund which was started with effect from the 1st April, 1946

• Development Fund 1 ---- DF1• Development Fund 2 ---- DF2• Development Fund 3 ---- DF3• Development Fund 4 ---- DF4

Contd..

• Apportioned from– Railway’s Excess– Loan from General Revenue– Interest on balance

• Withdrawal from Funds– For Works– Interest on loan and Re-payment of loan

DF I

• Expenditure on Specified items of passenger amenity works, i.e., provision of goods platforms and covers over goods platforms, foot-over bridges/sub-ways across Railway Yards, train indicator boards on important stations of suburban and non-suburban sections, rest shelters for licensed porters and such other passenger amenity works as may be included within the scope of the fund from time-to-time.

DF II

• Labour welfare works, including quarters for Class IV staff, costing individually above the new minor works Limit of Rs. 100000

• In terms of the recommendation of the Railway Convention Committee 1973, the cost of staff quarters is now charged to Capital sanctioned on or after 01.04.1976

DF III

• Expenditure on remunerative operating improvement works costing more than Rs. 3 lakhs each

DF IV

• Expenditure on specified items of safety works i.e., Track Circuiting or Axle Counters, Automatic warnings System, Vigilance Control Devices, Lifting Barriers at level crossings, Interlocking of level crossing gates with signals and such other safety works as may be added from time-to-time

Capital Fund• Appropriation to Fund

– Railway’s revenue/ excess– Loan from General Revenues ( 2000 – 01

249 Crores)– Interest on balance

• Withdrawal from Funds– For Works and principal payment of lease

charges– Interest on loan and Re-payment as loan

• Includes TWFA to Capital• Includes amounts transferred to

Development Fund as TWFA

Railway Safety Fund

• Credits – Appropriation – Interest on balance

• Debits– Withdrawal from fund

• Includes amounts as TWFA from Development Fund.

• Excludes TWFA to other funds.

Special Railway Safety Fund

• Transferred to Depreciation Reserve Fund as on 1.4.2008 consequent to closure of SRSF.

Accident Compensation Safety and Passenger Amenities Fund

• Abolished w.e.f. 01.04.1993

• Accident compensation – Demand 12 – K250

• Safety works – DF IV

• Passenger amenities – DF I

Revenue reserve Fund

• Abolished from 1992-93

• To reduce overcapitalisation

• Formed Capital fund