World Bank to fund Indian Infrastructure
The World Bank (WB) has joined hands with the Indian banks and also India Development Foundation and the Public Private Infrastructure Advisory Facility to fund for the infrastructure development in cities in India. Vijay Kelkar the chairman the finance commission has been given the initiative to investigate on the excess public land in India. One of the official from the world bank reported saying that the bank’s intention was not to sell the public land instead its asking to share the development of the land to provide various options to them. The Indian government has decided to take over the initiative to co-operate the world bank.
WB representatives reported saying that the committees aim is the re-disposition of excess public lands and this would harm no one’s concern or to pause over the ownership of the land but however will serve the stake holders interests instead. Mumbai Metropolitan Region Development Authority (MMRDA) since past few years has raised Rs.10,000 crore from the plots being sold. Also the urban experts in Mumbai are ensuring the safeguard over the transparency in the transactions happening over any sale of plot.
Source: The Times of India
India Development Foundation, Indian banks, MMRDA, Mumbai, Public land, Public Private Infrastructure Advisory, World bank
