Cabinet to consider long-awaited station redevelopment proposal today

RSTV Bureau
File Photo: Union Finance Minister Arun Jaitley addressing a press conference.

File Photo: Union Finance Minister Arun Jaitley addressing a press conference.

Long awaited proposal to involve private sector in redeveloping 600 stations across country is likely to come up during cabinet meeting today. Proposal to extend lease period from 45 to 99 years is also under consideration.

The Union Cabinet is likely to meet today at 1 pm.

According to reports, Railway Minister Piyush Goyal is likely to pilot the long awaited station redevelopment proposal in the meeting.

The project seeks involvement of the private sector in redeveloping 600 stations on an extended 99-year lease period.

The proposal to extend the lease period from earlier approved 45 years was hanging fire with Finance Ministry, Urban Affairs Ministry and NITI Ayog.

The redevelopment envisages opening of shopping plazas, office complexes, hotels, multiplexes and parking lots, among others.

(With Agency Inputs)