Selling land is the only solution:
Selling land is the only solution. On the one hand, declining revenue. On the other hand, rising costs … In this context, the government has launched various efforts to get out of the treasury difficulties. It is learned that the Chief Minister has already held consultations with CS and other senior officials at the KCR level for this. Accordingly, it has focused on government lands for sale in Hyderabad as well as its surrounding districts like Rangareddy, Medchal, Vikarabad, etc. Apart from this, the collectors were also directed to collect details of lands in Warangal, Karimnagar, Nizamabad, and Khammam corporations. Information that a decision will be made soon based on the report they give.
In the wake of the corona, the government is having to spend more on the medical sector. During a cabinet meeting on Tuesday, the CM announced that Rs 10,000 crore would be earmarked for the medical sector in the coming two quarters, irrespective of the funds allocated in the budget. This means that Rs 5,000 crore should be allocated for this immediately this year.
On the other hand, the Cabinet approved the PRC of the employees. If the pay revision is implemented with 30 percent fitment, the Finance Ministry estimates that it will cost about Rs 12,600 crore now. Versace will not impose an additional burden of Rs 17,600 crore on the exchequer in the current financial year (2021-22). The government feels that there is no other way to cope with this except to incur debts and sell land.
However, the government has decided not to go the second route as it has already brought in two loans. It is planning to raise Rs 5,000 crore immediately through land sales in this order. The first quarter (April, May, June) of the current financial year has come to an end. The company has set a target of Rs 15,000 crore for the second quarter (July, August, and September).
However, considering the past budgets, the estimates made by the government regarding the sale of land on that occasion, will the government’s goal be achieved ..? There is no doubt about that. This is due to the high expectations and the lack of revenue at that level. On the other hand, with regard to government lands … There are many litigations and in the case of open auctions, there are many instances where buyers look at them and withdraw, official sources say. If the sale is complete. Many disputes will take place during registration. Real estate traders say the real estate sector is mired in some crisis in the current corona conditions. In this context, it remains to be seen to what extent the objectives set by the government will be achieved.
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