Development News Edition
Give Feedback

India changing norms for private sector participation in modernisation of railway stations

The government is changing the norms for private sector participation in the modernisation of railway stations, Railways Minister Piyush Goyal said today.


PTI Last Updated at 01 Aug 2018, 17:08 IST India

The government is changing the norms for private sector participation in the modernisation of railway stations, Railways Minister Piyush Goyal said today.

These include increasing the lease period and allowing sub-lease facility.

Goyal told the Lok Sabha that a proposal would be put before the Union Cabinet in this regard on the revised strategy for the station redevelopment programme.

"We are going to change norms for modernisation of stations. This would include increase in period of lease, allowing sub-lease and mortage, so that the private sector can participate," Goyal said during Question Hour.

He said developers, investors and stakeholders had raised issues like longer lease period for commercially developed assets, multiple sub-leasing, no restrictions on usage and simplified bid procedures.

"A roadmap to further strengthen and empower Indian Railway Stations Development Corporation (IRSDC) as nodal agency to undertake redevelopment of more stations through simpler and transparent bidding procedures with various options and also for longer lease periods for commercial development, has been prepared," he said.

On electrification of the rail network, Goyal said the target is to achieve 6,000 km this year, as against 4,087 km achieved in 2017-18.

He said that railways will continue to use diesel locomotives in case of a breakdown or in border areas.

No diesel locomotive would go waste as they will be converted into electric when they come up for overhaul and at a low cost, Goyal said, adding "it is a win-win, gain-gain situation for India."

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


add banner

LEAVE COMMENT

Download our Android App on Google Play