New Delhi, India (Urban Transport News): To enable faster-integrated planning and development of infrastructure across the country under PM Gati Shakti framework, a need was felt to streamline and simplify the Railway’s land lease policy. In this regard, The Union Cabinet, chaired by Hon’ble PM Shri Narendra Modi, has approved the Ministry of Railways’ proposal to revise the railways’ land policy.
The extant short-term licence policy was ill-equipped to attract serious investors for creating multimodal cargo hubs. Under the policy revision, long-term leasing of railway land for up to 35 years has been allowed mainly to Public Sector Undertakings (PSUs). The modified land leasing policy will encourage the development of more cargo terminals. Consequently, it will enhance the share of rail in freight transportation leading to a reduction in the logistics cost of the industry.
Railways will earn more revenue as more cargo share will come to Railways. This modified policy will pave way for simplification of approvals for utilities as envisaged in the PM Gati Shakti Programme, like electricity, gas, water supply, telecom cable, sewage disposal, drains, optical fibre cables (OFC), pipelines, roads, flyovers, terminals, regional rail transport, urban transport etc. in an integrated manner. Land use and Right of Way (ROW) for Railway land will be provided at 1.5% of the market value of land per annum.