Kant continued saying, this means that you will have quality trains, new technology and they will use railway infrastructure.
"Therefore, concessioner will be free to charge a market-linked fare to the passenger and they will be providing value-added services for food, comfort, entertainment for individualised, and enhanced passenger experience. It would be like when you had private airlines operating in Indian airspace which compelled everyone to improve. We hope this will also radically change India over a period of time," he added.
Request for quotation has already been floating and the due date for applications is October 7, 2020, Kant said.
"Very confident that it will bring in investments in India for the modern technology of Railways, from across the world. It's a paradigm shift in what the railway has been doing because it is going to rewrite the growth story of India," he added.
Speaking about the development of the railway stations, Kant said that Prime Minister Narendra Modi has talked about it earlier.
"The proposed redevelopment stations we are looking at is an iconic world-class airport to give really better facilities to the passengers, user-friendly systems, technology-enabled services. Much like you have seen new airports in Delhi and Mumbai. You will see completely new stations which will drive India's growth," said Kant.
"The new stations will be well planned. The holistic development in the area will cater to long term transit and economic needs of the city. This will lead to all-time economic development. Our objective is to do around 50 railway stations by the end of next year which would mean an investment we are looking at is close to about Rs 1 lakh crores in the Indian Railways," he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.