The SRSF was a sequel to the recommendations of the Railway Safety Review Committee headed by Justice H.R.Khanna, following a major railway accident at Khanna. Of the total amount of Rs.17, 000 crores, Rs.12, 000 crores had to come from the Ministry of Finance and the remaining Rs.5000 crores mobilized by the Railways through levy of safety surcharge from the rail users. Later, the span of SRSF was extended by a year to wipe out fully the arrears in assets renewal. Accordingly, it ended on March 31, 2008. Yet the arrears in assets renewal were not fully wiped out.

Nevertheless, the Railways have done well in most of the areas in achieving the targets set under SRSF works due to which the line capacity has improved and the Railways were able to run more traffic with heavier axle loads. This was also partly responsible for Lalu Prasad's turn around of Indian Railways during the UPA Government's first tenure. This brings out the fact that the periodic replacement and renewal of the overaged assets is essential to make the Railway system work with enhanced safety. This also boils down to the scenario that the Railways should continue to work with renewed vigour in pulling up timely arisings of replacements and renewals of infrastructural assets within the same year without leaving any spill over of such replacements and renewals to the following year.

It was during Mamta Banerjee's first stewardship of Indian Railways in the NDA Government that the Railways had reached the brink of disaster with its assets under deep distress so much so that the Railways were unable to pay the annual dividend to the General Exchequer and deferred that as a result of its underperforming.

Shortfalls have been recorded in achievements of targets in bridge works sanctioned for renewal and rehabilitation under SRSF despite the fact that 84 bridges were dropped out of the sanctioned list of 2370 bridges. There was a shortfall of 95 bridges at the end of SRSF.

As for Signalling and Telecom components, there has been a shortfall of 133 complete renewals and 60 casual renewal SRSF works. A competent source in the Ministry of Railways revealed that the Ministry was exploring the possibility of having Signalling Project Management Teams to take care of the implementation and inspection parts. It is felt signalling being the most important aspect of safety should have been given priority by the Railways by taking adequate measures including filling up of vacancies in the Signalling and Telecom segments. Indian Railways still have an age old signalling system despite the fact that the efficient operation of rail services depends on signalling system.

There has been a shortfall of 738 locations in track circuiting works at the expiry of SRSF as against the target of 5307 locations.

Added to the above, six Narrow Gauge diesel locomotives were to be replaced or rehabilitate under SRSF. Out of these, two locomotives were proposed to be liquidated by regular funding mechanism after SRSF. It is learnt officially that at the end of the extended terminal year of SRSF on March 31, 2008, only two narrow gauge locomotives were rehabilitated. The Ministry of Railways, however, maintained that due to delayed supply of final drives and transmission system by the manufacturers and non-availability of components on account of outdated models, the work of rehabilitation of four narrow gauge locomotives spilled over to 2008-09 to be funded under Depreciation Reserve Fund.

According to the Ministry of Railways, the remaining incomplete SRSF works are being funded through Depreciation Reserve Fund and Development Fund. One hopes that adequate steps will be taken by the Ministry of Railways to allocate sufficient funds to the Depreciation Reserve Fund and Development Fund for wiping out unfinished SRSF works as well as arisings of arrears in the same year.#