A statement after the Cabinet meeting, chaired by Prime Minister Narendra Modi, said the University will be set up as a "Deemed to Be University" as per University Grants Commission regulations.
"The government is working towards completing all approvals by April 2018 and to launch the first academic programme in July 2018.
"This innovative idea, inspired by the Prime Minister, will be a catalyst for transformation of rail and transport sector towards New India," the statement said.
It added that a not-for-profit company will be set up to manage the proposed university.
"The company will provide financial and infrastructural support to the university, and appoint Chancellor and Pro-Chancellor of the university. Board of Management, comprising professionals and academics, shall be independent of the Managing Company with full autonomy to perform its academic and administrative responsibilities," it said.
The university, expected to have 3,000 full-time students, will be set up at the existing land at National Academy of Indian Railways (NAIR) in Vadodara and will utilise its infrastructure, suitably modified and modernised for the purpose of the university.
"This university will set Indian Railways on the path of modernisation and help India become a global leader in transport sector by enhancing productivity and promoting 'Make in India'.
"It will create a resource pool of skilled manpower and leverage state-of-the-art technology to provide better safety, speed and service in Indian Railways," the statement said.
With Indian Railways set to embark on ambitious projects like high-speed trains, massive infrastructure modernisation and Dedicated Freight Corridors, it would require high level of proficiency and skills.
Further, factors such as unprecedented growth in the transportation sector, increased requirement of qualified manpower and upgradation of skills and capability necessitated a world-class training hub, it added.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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