Indian Railways Finance Corporation to explore new 'lines of businesses': Railways Minister Piyush Goyal

'We are also contemplating to increase lease period from 45 yrs to 99 years with an aim to allow participants to have multiple leases,' Goyal shared. Photograph:( ANI )

WION Web Team Delhi, India Jan 13, 2018, 12.56 PM (IST)

Union Railways Minister, Piyush Goyal, told reporters that Indian Railway Finance Corporation (IRFC) is planning to explore new "lines of businesses" and will ensure better applicability of its Minimum Alternate Tax.

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Minimum Alternate Tax will enable better valuation of IRFC, the minister noted in Mumbai today. 

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Mr Goyal also shared the ministry's plans "to monetize some assets of Indian Railways" and other plans to change some of the existing guidelines on land and station assets monetization. 

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"We are also contemplating to increase lease period from 45 yrs to 99 years with an aim to allow participants to have multiple leases," he shared. 

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Railway Minister Piyush Goyal and Chairman of Railway Board Ashwani Lohani visited Mumbai to discuss new projects with rail planners. 

(With inputs from agencies)