New Delhi: The Union Cabinet has approved a policy for long-term lease of land owned by railways for implementation of Prime Minister’s Katishakti Framework.
A press release issued by the government in this regard: The Union Cabinet headed by Prime Minister Modi has approved the policy of granting long-term lease of land owned by Railways for the implementation of Prime Minister’s Katishakti Framework.
This will increase the freight traffic of railways. This will reduce the cost of transportation of goods for the industry. Railways will get more revenue. Public works including electricity, gas, water supply, telecommunication cable, roads, flyovers will be developed.
1.2 lakh people will get employment through this policy. 300 freight terminals will be set up in the next 5 years under Prime Minister’s Katishakti scheme. Long-term lease of railway land for freight operations up to 35 years at interest of 1.5 per cent per annum on the market value of the land. It says so.