In the cabinet meeting chaired by Prime Minister Narendra Modi on Wednesday, the change in rail land lease has been approved. The government has increased the time for leasing out railway land from 5 years to 35 years.
New Delhi: The Modi government has taken a big decision today regarding the railways. The government has increased the time for leasing out railway land from 5 years to 35 years. Apart from this, it was decided to cut the fee for Railway Land Lease (LLF) of railway land. Union Ministers Dharmendra Pradhan and Anurag Thakur gave this information in a press conference. In the cabinet meeting chaired by Prime Minister Narendra Modi on Wednesday, the change in rail land lease has been approved.
A decision has been taken to cut the LLF of railway land. The land license fee has been reduced from 6% to 1.5%. Now 1.5 per cent land lease fee will be charged on the market value of the land. In this, the fee will have to be paid at the rate of Re 1 per square foot.
Amendment in the land lease of railways to implement PM Gati Shakti Framework
Anurag Thakur informed that amendments have been made in the land lease of railways to implement PM Gati Shakti Framework. More than 300 PM Gati Shakti terminals will be built in the next 5 years. This will create more than 1.25 lakh employment opportunities.
The government container company CONCOR will get a big benefit by increasing the time for leasing railway land. Till 2020, CONCOR, being a government company, was enjoying the benefit of leasing at concessional rates.
However, after that the government issued a decree, and now the same lease fee will be charged to government and private companies. Due to this, Concor had to pay 6 per cent fees and this was affecting its profits