- Definition: A regulatory body for the railway sector.
- Approved by the Government in April 2017.
- Comprises a Chairman and three other Members.
- Functions:
- Recommend tariff.
- Frame principles for social service obligation.
- Provide guidelines for track access charge.
- Ensure fair play and level playing field for stakeholder investment.
- Make suggestions regarding policies for private investment.
- Ensure reasonable safeguards to investors.
- Resolve disputes regarding future concession agreements.
- Set efficiency and performance standards.
- Suggest measures for absorption of new technologies and human resource development.
- Disseminate information, benchmarking service standards.
- Provide framework for non-discriminatory open access to DFC infrastructure.
- Monitor policies on public-private partnerships.