A new land policy, that may clear land acquisition hurdle for existing and new infrastructure projects, would go to the union cabinet for approval. Land acquisition remains a major concern.
Last year, a ban was imposed on the transfer of government land to other entities. If any department had to implement a project that required alienation of land (through lease, licence or rent), it had to seek the approval of the cabinet. To remove this bottleneck, the Finance Ministry has prepared a land alienation policy.
Besides, the Finance Ministry has asked the institutions allowed to float tax-free bonds of Rs 60,000 crore to indicate a timeline for raising the money. This would ensure the market isn’t crowded with the papers towards the end of the year. The ministry would also ask the Cabinet Committee on Economic Affairs to expedite clearances for projects of over Rs 1,000 crore that face regulatory hurdles.,
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