In a function held at Rail Bhawan recently, Minister of Railways, Mallikarjun Kharge received a cheque for Rs 937 crores from YP Singh, vice chairman, Rail land Development Authority (RlDA).
Minister of State Kotla Jaya Surya Prakash Reddy, chairman Railway Board Arunendra Kumar, member engineering Railway Board and chairman RlDA Subodh Jain and other Railway Board members and senior officers of RlDA were among those present on the occasion.
Since its inception in 2007, against an expenditure of Rs 58 crores, Rail land Development Authority has earned Rs 1,326 crores. RlDA has achieved a remarkable feat of earning and transferring record amount of Rs 937 crore during 2013-14 and is moving towards emerging as India’s leading Public land Development Authority.
Rail land Development Authority (RlDA) was constituted as an autonomous body for Railways for undertaking commercial development of vacant railway land not required in the near future for railway operations. The authority was formed through an Act of Parliament through Railways (Amendment) Act, 2005 which authorised Ministry of Railways to constitute Rail land Development Authority and also empowered Railways to undertake commercial development of its land. Earnings are generated by commercial development of vacant land and construction of multi functional complexes at various railway stations located all over the country by RlDA. During the financial year 2013-14, record earnings of Rs 937 crores is being transferred by RlDA to various zones of Indian Railways.