File photo: Piyush Goyal. Photograph:( ANI )
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.
Have aggressive plans to monetize some assets of Indian Railways, planning to change some existing guidelines on monetizing land&station assets.We are also contemplating to increase lease period from 45 yrs to 99 yrs&allowing participants to have multiple leases: Railway Minister pic.twitter.com/R27rPm3Hu4— ANI (@ANI) January 13, 2018
Minimum Alternate Tax will enable better valuation of IRFC, the minister noted in Mumbai today.
Indian Railway Finance Corporation (IRFC) in the days to come is going to expand its footprint into the newer lines of business & will be able to use its Minimum Alternate Tax better because of which valuation of IRFC can be much better: Piyush Goyal, Railway Minister in Mumbai pic.twitter.com/SZglntLBbA— ANI (@ANI) January 13, 2018
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.
We are trying to set up 20 lakh CCTV cameras in the entire Indian Railway network, particularly the passenger coaches: @PiyushGoyal— Piyush Goyal Office (@PiyushGoyalOffc) January 13, 2018
"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.
IRFC has been playing an improtant role in the activities of Indian Railways. It's one of the major financing arms which helps us to bring in investments required for the railways: @PiyushGoyal— Piyush Goyal Office (@PiyushGoyalOffc) January 13, 2018
Railway Minister Piyush Goyal and Chairman of Railway Board Ashwani Lohani visited Mumbai to discuss new projects with rail planners.
(With inputs from agencies)