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Cabinet Approves Policy For Leasing Railroad Land On Long-Term Basis

Union Minister Anurag Thakur informed following the cabinet meeting that the new policy will assist in giving land leasing for a longer term of up to 35 years, as opposed to five years at the present

The PM Gati Shakti initiative, which the government claims would help establish 300 freight terminals and create 125,000 employment, received approval from the Union Cabinet on Wednesday for a long-term lease policy of railroad land.

Union Minister Anurag Thakur informed following the cabinet meeting that the new policy will assist in giving land leasing for a longer term of up to 35 years, as opposed to five years at the present.

According to Thakur, 300 freight terminals would be built in five years, with a potential employment production of roughly 125,000 jobs. This approach will also increase income for the Railways.

More cargo terminals and integrated infrastructure development will be possible according to the new approach.

According to Thakur, in addition to being leased for the construction of cargo terminals, these land parcels would also be utilised in public-private partnerships to build social infrastructures like hospitals and schools.

The minister noted that solar power facilities will also be built on railroad property.

According to Thakur, new stakeholders would be able to lease land for up to 35 years at a rate of 1.5% of the property’s market value.

A transparent bidding process would allow current stakeholders to participate in this plan, he added.

According to government sources, the programme will guarantee roughly 1.2 lakh jobs and increase income for Indian Railways.