Ficci welcomes Cabinet's nod to redevelop 400 railway stations

Ficci on Thursday welcomed Cabinet's approval to the proposal of redeveloping about 400 railways stations across the country, saying it will help attract participation from the private players.

Terming the proposal as a "positive measure in the right direction", Ficci Secretary General A Didar Singh said: "It is in line with this year's Rail Budget announcement and this will help attract greater private participation.

"It is a positive measure in the right direction and will be a win-win for private players, rail-users and railways." The proposal to redevelop about 400 railways stations in metros and major cities besides pilgrim centres and tourist spots was cleared by the government on Thursday.

The Cabinet chaired by Prime Minister Narendra Modi gave its approval for redevelopment of the railway stations on 'as is where is' basis to accelerate the process of revamping them.

Under this model, interested parties coming through open bids would develop the stations with their designs and business ideas while commercial development of real estate would be allowed by the Zonal Railways.