New Delhi: Railways Minister Piyush Goyal on Wednesday (March 10) mentioned that the new land licensing fee (LLF) coverage for the Indian Railways has been cleared by the ministry and that it’ll quickly get the approval from Union Cabinet as properly.
“We had a detailed round of engagement with the private sector and also Niti Aayog before finalising the LLF. We had inter-ministerial consultation as well. Now, we have finalised the policy and got my approval too. It is going to the Cabinet soon,” Goyal mentioned.
He added that the proposal has been sent to Cabinet Secretary.
The new LLF coverage for amenities constructed on railway land will assist finish the impasse over a key subject that has halted the method of privatising the state-run Container Corporation of India Ltd (Concor).
The coverage will apply to Concor and different non-public container prepare operators organising terminals on land leased from Indian Railways. This will assist create a degree taking part in area.
According to the proposal, the Ministry of Railways will levy an annual land license fee on the price of three per cent of the commercial land worth per acre the place the terminal is positioned.
Goyal mentioned that Concor is anticipated to deal with at the very least 10 million tonnes (MT) extra freight site visitors by the tip of this monetary yr in contrast to the pre-COVID degree.
