National Land Management Corporation recommended by National Infrastructure Pipeline Task Force
The Task Force on National Infrastructure Pipeline recently submitted its report to the Finance Minister Smt Nirmala Sitaraman. Under the report, the task force has recommended to set up National Land Management Corporation.
Highlights
The National Land Management Corporation will help to monetize state-owned surplus lands in a systematic way. The Task Force recommends to set up the corporation under Companies Act. The Corporation will also manage the lands that are owned by the Government of India.
Role of the corporation
The following were recommended by the task force
- To hire a technical team to operate under the corporation. The team will be market-linked.
- A Chief Executive Officer shall be appointed to lead the corporation
- The Corporation will raise capital from the equity market
- The corporation will work with several government departments including Defence Ministry and Railways.
- The Corporation is to develop model concession agreements.
Background
The Government of India is to bring about 100 lakh crore investment in the infrastructure sector in the next five years. Therefore, it is important to bring about new monitoring agencies as that of the National Land Management Corporation to make sure there is enough availability of land to make the investment fruitful.
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Month: Current Affairs - May, 2020