Railway Reforms

Railways appoints IRSDC as nodal agency for station redevelopment plan

Note4students

Mains Paper 3: Economy | Infrastructure: Energy, Ports, Roads, Airports, Railways etc.

From UPSC perspective, the following things are important:

Prelims level: Particulars of the IRCDC

Mains level: Infrastructure development is an important part of the Mains Syllabus


News

Attempt to expedite the revamp of Railway Stations

  1. Indian Railways has decided to appoint its joint venture company Indian Railway Station Development Corp. Ltd (IRSDC) as the nodal agency for its ambitious station redevelopment programme
  2. Under the Rs1 trillion station redevelopment plan, Indian Railways plans to revamp 400 railway stations by monetizing 2,700 acres of spare railway land

Particulars of the IRCDC

  1. The Railway Board took the decision to appoint IRSDC following recommendations by a three-member expert committee
  2. IRCDC is a joint-venture firm of Ircon International Ltd and Rail Land Development Authority (RLDA)
  3. The company had vast experience of station redevelopment planning, execution and monitoring, which is not available with other departments and officers of the railway ministry

Budget details of the project

  1. the total project cost for the revamp of 400 stations will be around Rs107,000 crore
  2. Of this, Rs28,000 crore will be for station redevelopment, Rs68,000 crore for commercial development
  3. And the remaining Rs11,000 crore would be surplus with the Railways following monetization of land
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