I would be “satisfied” with funds allocation to transport behemoth in budget: Goyal

Vastavam web: Aiming to fund rail expenditure through asset monetisation, Railway Minister Piyush Goyal said today he would be “satisfied” with any amount of capital allocation to the transport behemoth in the upcoming budget.Without giving details on the budget allocation for Railways, Goyal told reporters here that he is “satisfied with whatever has been proposed (in the budget)”.The minister said his government is planning to change some of the existing guidelines on monetising land and station assets as well as contemplating on extending the lease period from 45 years to 99 years, among others.

Speaking on the sidelines of an BSE event, he also noted that after extensive stakeholder deliberations “there is a lot of excitement among them to get involved”.He said the move will help build confidence among the promoters and maximise the value of the Railways and therefore not make the PSU “dependent on the Union budget”.

Asked about plans to list the Indian Railways Finance Corporation (IRFC), Goyal said the public sector enterprise is looking to expand its footprint in days to come into newer line of business which would help improve its valuation.”Therefore, some of those timelines I have allowed to be delayed till the final business plans are made and finalised with Ministry of Finance and Ministry of Corporate Affairs certain other concessions we require,” Goyal said.