Land Authority of India to monetise unutilised land in the country
New-Delhi- In a recent decision made by the government, a plan to set up the Land Authority of India to take over the under-utilized and unused government land and their monetizing has been made. This will help in the country’s capital generation of about Rs. 1 lakh crore which will help in propping the country’s burgeoning fiscal deficit.
The decision was put forth by the Union Urban Development Ministry and has been discussed along with other officials which includes the finance ministry as well.
As per an official, a large amount of land across the country with the bodies like CPWD, DDA, Railways, Defence, public sector undertakings and other agencies will be put up in the sale bracket.
Selling of these lands from the bodies will help in raising about Rs. 1 lakh crore within six months and will contribute to the fiscal deficit. According to the minister, the land should be either used or sold. Due to the scarcity of land, there has been a price increase all over the country.
He further said that the authority should be chaired by the finance secretary and the members should be the last three CVOs and CAGs. Talking about land encroachments, there have been a large amount of land under the Delhi Development Authority (DDA) and the Central Public Works Department which has been encroached.
The country has large amount of land patches which is unused by various agencies. The officials insist that such lands should be sold as even the Indian Railways has 4.59 lakh hectares of land out of which 0.38 lakh hectares is unused with the railway authority using the land for commercial use to create revenue.
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