Railway minister Suresh Prabhu today said there is rapid expansion of railway network in the country. Replying to questions in the Lok Sabha, Mr Prabhu said in the Rail budget 2015-16, setting up of a mechanism for making regulations, setting performance standards and determining tariffs was announced. <br/><br/>Mr Prabhu said independent regulatory authority for the railways will ensure fair play and level playing field for private investments, setting efficiency and performance standards and dissemination of information. He said the authority consist of railway board chairman and four other members who have special knowledge and professional experience in railways, infrastructure and management.