Modernisation! This is Modi government's next big move for Indian Railways
After deciding to privatise 151 passenger trains, the Centre is planning to auction railway stations to private players after modernising the facilities, Piyush Goyal said.
Modi government is planning to auction modernised railway stations to private players, Union Minister of Railways and Commerce and Industry Piyush Goyal has confirmed. After deciding to privatise 151 passenger trains, the Centre is planning to auction railway stations to private players after modernising the facilities, Piyush Goyal said.
Addressing a webinar organised by the Merchants' Chamber of Commerce and Industry (MCCI), the Union railway minister said the bids for privatising the trains were all out and well responded to. "There are plans to modernise the railway stations. Then, those will be auctioned to private players at a later stage," he added. Work on the freight corridor project will have to be speeded up, the Union minister said adding that it got delayed due to the COVID-19 pandemic.
Recently, Ministry of Railways had issued an important clarification regarding timeline of introduction of private trains. Issuing the statement, Ministry of Railways said, "Kindly refer to the story in some of the publications regarding “Timeline of introduction of Private Trains”, where it's mentioned that "Private Trains project would start in March 2024”. "While a clarification was posted in the media group yesterday i.e. 18th July 2020, the same is being reiterated once again. It may be noted that Private Trains are slated to run from March 2023 only," Ministry of Railways said.
Earlier, Ministry of Railways had confirmed that 151 trains to be run by private operators once the selection process is finished, would be over and above the already existing trains. Ministry of Railways had recently invited Request for Qualifications (RFQ) for private participation for the operation of passenger train services over 109 Origin Destination (OD) pairs of routes through the introduction of 151 modern trains.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Looking for short term investment ideas? Analysts suggest buying these 2 stocks for potential gain; check targets
Power of Compounding: How long it will take to build Rs 5 crore corpus with Rs 5,000, Rs 10,000 and Rs 15,000 monthly investments?
Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations
SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?
05:49 PM IST