A Tansport Department notification said projects under the policy envisages building up of an efficient and sustainable multi modal transport system.
"The government's vision in the sector is to shape a modern, efficiency, economical and safe transportation system balancing the needs of economy to meet the mobility needs of all sections by 2036," it said.
It said the challenges currently being faced by the transport sector are inadequate transport infrastructural capacity to meet future travel demands,increasing urbanization significantly pressuring urban mobility system endangering urban competitiveness and fiscal constraints, among others.
The policy envisages strengthening the Transport Department to make it more of a transport system regulator than a mere revenue collection and license issuing agent'.
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As part of the policy, the government said it would provide advanced driving simulators and test track facilities to impart innovativetraining for drivers and driving behaviour to enhance road safety.
The Agency would have representatives from all major operators and stakeholders.
The policy said the government would encourage 'private investment to develop transport infrastructure. It would also ensure availability of land and guaranteed minimum returns to Special Purpose Vehicles constituted for the purpose by way of capital grant and annuities to bridge shortfalls in revenue.
The existing tax and subsidy policy would be restructured to enhance revenue on the one hand and encourage public transport on the other, the notification said.
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