The GoM will be headed by Deputy Chief Minister Manish Sisodia.
Attacking the police, the Chief Minister said law and order situation has deteriorated significantly and women do not feel secure in the city.
"There is no fear among those who commit such crimes. The sense of security is over," the Chief Minister said.
Kejriwal has been targeting the Centre following rapes of a two-and-half-year-old child and another five-year-old girl in the capital on Friday and even demanded handing over of Delhi Police for at least one year to Delhi Government.
Yesterday, Kejriwal had a meeting with lt Governor Najeeb Jung following which he stepped up attack on Prime Minister Narendra Modi saying he will not let him sleep "peacefully" if "jungle raj prevails".
"We will not allow the Prime Minister to sleep peacefully if women in Delhi do not get proper safety and the present trend of rapes continues. That is guaranteed," he had said.
The Chief Minister has been maintaining that there was no control over Delhi Police and it was high time they be made accountable.