1. Piyush Goyal: Railways have aggressive plans to monetise assets; IRFC to expand footprint

Piyush Goyal: Railways have aggressive plans to monetise assets; IRFC to expand footprint

Indian Railway Minister Piyush Goyal said, "Full Board meeting of Railway Board members will now be held every week, and if there is no agenda when we meet on a cup of tea to exchange the thoughts and idea."

By: | New Delhi | Updated: January 13, 2018 7:23 PM
Indian Railways. Railway Minister Piyush Gooyal, Piyush Goyal IRFC, Piyush Goyal at BSE, Piyush Goyal India INX, Indian Railways Minister, Union Railway Minister Piyush Goyal during the listing ceremony of India International exchange at BSE in Mumbai on Saturday. (Photo: PTI)

Railway Minister Piyush Goyal on Saturday said financial wing of Railway’s – Indian Railway Finance Corporation (IRFC) – will soon expand its footprint into newer business lines. Goyal was attending the launch event of India INX Global Securities Market and the maiden listing of IRFC Green Bonds. During the event, Goyal said in coming days, IRFC will be able to use the MAT or Minimum Alternate Tax better. “IRFC in the days to come is going to expand its footprint into the newer lines of business and will be able to use its Minimum Alternate Tax better because of which valuation of IRFC can be much better,” the minister said.

Goyal also said his ministry has plans to make the most use of the assets with the Indian Railways. “Have aggressive plans to monetize some assets of Indian Railways, planning to change some existing guidelines on monetizing land and station assets. We are also contemplating to increase lease period from 45 yrs to 99 years and allowing participants to have multiple leases.”

Goyal further said, “Full Board meeting of Railway Board members will now be held every week, and if there is no agenda when we meet on a cup of tea to exchange the thoughts and idea.”

On January 8, railway officials said drones fitted with a camera will now monitor railway projects, aid crowd management and even oversee maintenance works across its zones. The West Central Railways, headquartered at Jabalpur (MP), will be the first zonal railway to procure the drone cameras and it has already conducted a trial run of the cameras last week in all of its three divisions. The cameras (UAV/NETRA) would be used for various activities, especially project monitoring and maintenance of the tracks and other railway infrastructure, the national transporter said in a statement.

In a separate event today, National Rail Transport Seminar was held in New Delhi today. The theme of the seminar was “Railways for Sustainable Development.” The keynote address at the inaugural session of the seminar was given Mohd Jamshed, Member Traffic, Railway Board. During the speech, Mohd Jamshed said, “We are determined to increase the model transport share of Railway. There are 3 solution sets for this issue –expanding the freight basket of Indian Railways, rationalizing the tariff structure & building capacity.”

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  1. A
    aksinha
    Jan 13, 2018 at 9:12 pm
    Dear Sir, Don’t increase the lease period. It will lead to real estate business as has happened in Mumbai. All the Textile mills have converted their factory land given to them on lease in the past, to residential colonies. Further, lease rental in the Bond should be at market rate, not fixed for full lease period, may be with an incremental increase of at least 10 every five years . Those lessee who don’t find rent profitable would vacate for other entrepreneurs. First all the Railway land should be digitized as Government had already said in the past, and holding numbers allotted to ascertain revenue accrual every year and check encroachment.
    Reply
    1. Partha Sarathi
      Jan 13, 2018 at 7:42 pm
      Hyperloop technology is to be tested and of found feasible why can't India go for it in lieu of he proposed bullet train between Mumbai and Ahmedabad? Please think over this suggestion.
      Reply

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