The economic revival panel headed by former finance secretary Hasmukh Adhia on Friday 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, stated an official release. 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 2800 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 it’s 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 andAuto Components. It also suggests development of industrial parks near ports and extended port concessions to 60 years.
The Committee conducted about 37 meetings which included discussions with about 44 internal stakeholders and 64 external stakeholders. Both the Interim and Final report were submitted to the GoG in required time duration or one month.
The Interim Report comprising of about 103 suggestions focusing on the immediate short-term measures to kickstart the economy was submitted to the Government of Gujarat on 28th May 2020.
Former Congress MP in Rajya Sabha, Madhusudan Mistry has, however, opposed the Adhia panel’s suggestion in the interim report to use Rs 2,800 crore lying in the Construction Workers’ Welfare Fund and Rs 1,482 crore in the CAMPA (Compensatory Afforestation Fund Management and Planning Authority) Fund to meet part of its revenue deficit arising due to Covid pandemic.
Mistry stated in an official release that the fund meant for workers’ welfare has been collected from builders associated with construction activities and should be used only for their welfare.
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