Cabinet approves reduction in railway land licence fee to 1.5%. Find out other reforms

  • What: The Cabinet on Wednesday approved the policy on long-term leasing of Indian Railways' land and has cut the land licence fees from 6 percent to 1.5 percent.

  • Why: This comes after there was a long awaited amendment to the Railway Land Policy would ease the strategic divestment process of Container Corporation of India (Concor) and make it more attractive to private investors.

  • Background: The move can also be traced back to NITI Aayog's recommendation to keep the railway land leasing fee for containers below 3 percent.

  • What next: The proposed changes will pave way for the privatisation of Concor because it will help strategic buyers pay much less amounts as land rentals to railways for a longer period.

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