India, Sept. 4 -- The state government has taken a major decision regarding the commercial utilisation of surplus land owned by the Maharashtra State Road Transport Corporation (MSRTC). Under the revised policy, the lease period for projects to be developed through Public-Private Partnership (PPP) has been extended from 60 years to 98 years. Transport minister and MSRTC chairman Pratap Sarnaik said on Wednesday that this move will help increase the corporation's revenue and ensure long-term financial stability.

"As per the government's updated policy, MSRTC's surplus lands will be developed on the PPP model, with a lease period of 49 years plus an additional 49 years, making it a total of 98 years. During this period, it will be mandator...