Government has announced that it will set up 300 cargo terminals under the PM Gati Shakti framework over next four to five years to reduce the logistics cost by a huge margin and attract more cargo to railways. The decision is expected to add a great impetus to the economy.

Briefing media about the Cabinet decision on the policy on long-term leasing of railways land for implementing the PM Gati Shakti framework in New Delhi today, Railways Minister Ashwani Vaishnaw said that this project will not only reduce logistics cost by two to three percent, but generate over one lakh job opportunities in next four to five years. He said,

logistics cost by road transport accounts for 17 to 18 percent of total GDP, therefore this project was envisaged with deep consultation with all the stakeholders.

Mr Vaishnaw said, Rail Ministry has received 93 firm applications for setting up multimodel cargo terminals of which over 60 applicants have expressed their strong desire for this project.

He said, there will no change in lease policy for existing cargo terminals and if some company's lease period expires then that company has to come through the transparent bidding process to acquire the newer one.

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