Railways Offer New Policies to Attract Private Investments
In a bid to tap private investment, railways today said some new policies are in the offing to attract funds as the government has simplified the procedure to remove hurdles in doing business with investors.
"We are framing new policies to attract private investment and it will be publicised soon," Minister of State for Railway Manoj Sinha said at a seminar here.
Citing example, he said for the development of a station a complete data on total land area near it will be prepared through geo-mapping system so that it can be utilised for commercial purpose.
The Minister said that trains can also be run on public-private partnership (PPP) model for tourism purpose.
"Some tourist trains in religious circuits can also be run by private players. Whether a train for Tirupati or Patna Sahib, one can decide on the private venture with railway support," he said.
He said railways have finalised five PPP models. "We have prepared five PPP models for the industry. You can work in station development, freight terminal, port connectivity or new line as these areas are open for PPP investments."
On foreign direct investment (FDI) in the rail sector, he said, "Now 100 per cent FDI is allowed in railways. Barring operation, FDI is allowed in eight areas including high speed, dedicated freight line and suburban trains."
Emphasising on transparency, Sinha said, "It is the prime criteria in private investment."
Admitting that there are "hurdles" in private investment, Sinha said, "Several steps have been taken in the recent past to decentralise the system and all remaining hurdles will be removed in a month."
"Even for construction of rail overbridge (ROB) or rail underbridge (RUB), designs used to be approved at the Board level. Now, we have empowered the zones to take decision and execute it at zonal levels," he said.
The Minister said till now railways have attracted Rs 16,000 crore in private investment.
FROM OUTLOOKRailwaysLack of funds, poor planning, fare disparity Nitish Kumar wants to rid the Railways of its ills...more from outlook>>>
FROM THE WEBOpinion"Littering says a lot about you" had read billboarmore from WEB>>>
FROM WIRESKolkata, July 23 (PTI) Union Minister of State formore from WIRES>>>
- My Party and My Family Are United: Mulayam Singh Yadav
- Tata-Mistry Tussle Heads to the Courts As Tatas File Caveats in SC, HC, NCLT
- Yashwant Sinha Led Delegation Meets Hurriyat Leader Geelani to Break Kashmir Impasse
- Six Members of a Family Injured in Pak Shelling in Jammu
- SC Directs Vijay Mallya to Disclose His Foreign Assets in Four Weeks
- Delhi: One Person Killed In Blast At Naya Bazar, Rajnath Calls Delhi CP
- Watch: Svetlana Kuznetsova Snips Her Hair And Bosses The Match
- Daily Curator: After Board Says Tata to Cyrus, Bombay HC May Have a Case to Hear
- Should You Be Worried About H5N8 Bird Flu? A Quick Guide To The Alphabet Soup
- Watch: The Trailer of Hugh Jackman's Last Wolverine Film, Logan
- Daily Curator: It's All About The Family
- Daily Curator: All That Chest Thumping Can Accomplish
- E-Ballot Facility for Service Voters Gets Govt Nod: CEC
- Snatch Tribal Rights, Face Action, Warns PM
- 300-Year-Old British Coin, One of Only 20 Ever Minted, Found in 4-Year-Old's Treasure Chest
- Muslim Community Must Seriously Ponder Over Triple Talaq: RSS
- Rename HRD Ministry as Education Ministry: Sisodia to Javadekar
- Saudi Man Dumps Bride for Sharing Pictures on Snapchat Just 2 Hrs After Wedding
- MOST VIEWED
- MOST COMMENTED
- Cyrus Mistry Removed As Chairman Of Tata Sons, Ratan Tata To Hold Interim Position
- Ratan Tata: 'I Think Everybody Knows Where The Intolerance Is Coming From...'
- Now, Adult Film Star Accuses Trump of Sexual Harassment
- Not Just a Business Partner, But an Ally Who Stood By India in its Darkest Hours: Russia