Considering that land monetisation is a complex process, entrusting this work to a separate agency is the right way to go about it. Discuss (200 Words)
Refer - The Indian Express
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IAS Parliament 3 years
KEY POINTS
· Union cabinet approved the creation of a National Land Monetisation Corporation to monetise the surplus land holdings of Central Public Sector Enterprises (CPSEs) and other government agencies.
· Public sector entities hold vast tracts of land that are either unused and underused land. As per reports, the total vacant land available with Railways is estimated at around 1.25 lakh acres.
· Proceeds from the monetisation of these assets will help generate additional resources, boosting government coffers. After all, land in and around prime areas can possibly generate substantial returns.
· A separate entity, housed with professionals with specialised skills is better suited for this task. However, the entity will have to grapple with several issues. First, the estimation of surplus land may be a contentious issue. Ministries, departments, and public sector entities may be reluctant to demarcate land parcels as “surplus”.
· Second, the corporation will have to grapple with issues such as the absence of clear titles, ongoing litigation, and muted investor interest.
· But while this monetisation drive should lead to more efficient outcomes, it does raise questions over the management of commons, and whether public purpose can be better looked after by more effective management of public land by the state.
RAJA MOHAMED 3 years
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IAS Parliament 3 years
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Manish 3 years
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IAS Parliament 3 years
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