As Finance Minister Sitharaman gave her seventh budget speech, she said that the government will put together an economic policy framework to set out a strategy for achieving and sustaining high growth through next generation reforms. This is supposed to cover all factors of production such as land, labor and capital. Collaboration with Centre and States is required for this, said the finance minister.
A significant part of a 50 year interest free loan has been proposed to be allocated towards working with States on various reforms. It also includes land related reforms in both urban and rural areas which encompasses land administration, planning and urban planning and building bye-laws. In addition, Rural land related actions would include assignment a unique Aadhaar for all lands, digitisation of terrestrial maps,survey of lands, and establishment of land registry. Land records in urban areas are also to be digitised in order to improve the finances of urban bodies in the country.
In addition, Ms.Sitharaman also announced that Digital Public infrastructure will be developed for agriculture. After a successful pilot project, we will partner with States to cover farmers and their lands within three years,” she added saying it will be taken up in 400 districts this year. It is expected that six crore farmers will get benefit from this porject.
Moreover, the government would provide support under the Accelerated Irrigation Programme and other sources for projects having estimated cost of Rs 11,500 crore, she added.
