Land Monetisation Will Boost Economy: Hasmukh Adhia Panel

The economic revival panel headed by former finance secretary Hasmukh Adhia has submitted its final report to the Gujarat government which suggested “monetisation of land” as a tool that will provide an immediate boost to the economy. The suggestion to monetise land was mentioned as part of the suggestions made for urban infrastructure in the report that consisted of 231 medium and long-term suggestions for revival of economic growth in the state after the Covid-19 pandemic. The report was submitted to Chief Minister Vijay Rupani, his deputy Nitin Patel in Gandhinagar,. Two weeks ago, the panel had submitted an interim report to Rupani after which the government declared Rs 14,000 crore package to boost the economy of the state. The report mentions that the state government could also explore using land pockets reserved for Economically Weaker Sections (EWS) and the Rs 2,800 crore Construction Workers Fund to create large scale rental housing in PPP mode, stated an official release. For the GIFT CITY, the panel asks the government to bring in Bullion Exchanges, specialised Universities, International Arbitrary Centres and NIFTY Futures Trading Centre. The committee in its report also asks the government to implement the Water Meter Policy for all the municipal corporations within a year, where all industrial and commercial units may be covered in first two years. It also suggests privatisation of certain suburban bus routes. For attracting FDI, the panels asks the government to focus on bulk drugs, synthetic fabrics, electronic components, medical devices, energy storage devices and auto components. It also suggests development of industrial parks near ports and extended port concessions to 60 years.