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Centre looking to monetise heritage railway lines, stadia, says report

Centre looking to monetise heritage railway lines, stadia, says report

Centre looking to monetise heritage railway lines, stadia, says report
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By CNBC-TV18 Jul 9, 2019 11:16:51 AM IST (Updated)

NITI Aayog has proposed complete sale of stadia owned by the government or inviting real estate players to use them commercially, the report said. 

As it looks to meet its target of the highest-ever disinvestment of Rs 1.05 lakh trillion, the centre is likely to monetise Indian Railways' heritage routes and stadia, including Delhi's Jawaharlal Nehru Stadium, Asia's 27th largest stadium, Business Standard reported, citing multiple sources.

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Representatives of the government think-tank, NITI Aayog, Department of Investment and Public Asset Management (DIPAM), Ministry of Youth Affairs and Sports and Ministry of Railways have had two rounds of talks in this regard with finance minister Nirmala Sitharaman, prior to the maiden budget presentation, the above-mentioned sources told BS.
NITI Aayog has proposed complete sale of stadia owned by the government or inviting real estate players to use them commercially, the report said.
About six stadia have been identified for the purpose, including the 60,000 sitting capacity Jawaharlal Nehru Stadium and the Karnail Singh Stadium in Delhi, under the railway ministry, the report added.
However, the sports ministry has its reservation on the idea of monetising the stadia for commercial purposes such as setting up hotels and shopping malls, the report said, adding that additional discussions on the same are expected to sort out the differences.
"On average, an investment of around Rs 1,000 crore is expected from private players in each of these stadia. There are five stadia in Delhi that are under the department of sports, which are under consideration. In addition, the stadia under railways, too, may be monetised," an official told BS.
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