Cabinet clears the decks for Rs 1-trn railway station modernisation plan

IRSDC will be able to raise money from the market based on a letter of comfort from railways

The Union Cabinet on Wednesday cleared a new railway station redevelopment policy for modernising railway stations. The Indian Railway Stations Development Corporation (IRSDC) has been made the nodal agency for redevelopment projects and the lease period for them has been increased to 99 years.

“IRSDC will be the nodal agency for station redevelopment now. It will take up a project based on its suitability,” said Union Minister for Electronics and IT Ravi Shankar Prasad, addressing a press conference on Wednesday.  

The government has already lined up 600 railway stations for an investment of about Rs 1 trillion. Instead of