Ahmedabad: In its bid to enhance research on issues of emerging financial challenges, Ministry of Railways today signed an MoU with National Academy of Indian Railways (NAIR) for setting up of ‘C T Venugopal Chair on Strategic Finance, Research and Policy Development’.
“Investment in Railways now needs to be stepped up…The MoU would focus and promote research on issues of emerging financial challenges before the Railways,” Railway Minister Suresh Prabhu was quoted as saying in a release.
The MoU for the chair was signed between Railway Board Additional Member Finance K B Nanda and National Academy of Indian Railways Director General Rajeev Gupta in the presence of senior officials from both sides. Signing of the MoU was in line with the announcement of setting up of the chair in the Budget 2016-17.
The chair is being named after C T Venugopal, who was the first officer to be recruited to the Indian Railways Accounts Service. He was also responsible for division of railway assets between India and Pakistan.
The duration of Chair will initially be for three years, extendable by another two years.
On the occasion, Prabhu also released a compilation of Railway Budget speeches from 1924-25 to 1946-47.
“These speeches being significant policy documents will help in understanding the growth of Indian Railways and its finances. The material was compiled from various sources including the National Archives, the Teen Murti library, the Parliament House library,” the release stated.
Hyderabad based C-TARA (Centralized Training Academy for Railway Accounts) and IRIFM to also become part of the initiative eventually, told a senior Railway officer.