New Delhi [India], Karnataka government said there is no proposal to monetize 25,000 acres of land around Bengaluru.
The state government said that it is the fundamental responsibility of the Government to optimize resource mobilization without imposing undue burden on citizens. The Government is firmly focused on ensuring equitable economic growth so that the poorer sections of the society also reap some benefits from the rapid economic growth that the state is witnessing.
From this point of view, many measures are being proposed and considered. Our state has greater potential to raise additional non-tax revenue from sectors such as mining, advertising in urban areas, naming rights, etc.
Better tax compliance is also another measure being explored. Some of the recommendations also include a limited degree of monetization of non-strategic assets, but that does not have to mean the alienation or direct sale of government land, the government said in a statement.
There are several creative and smart ways to raise resources without selling government land or raising taxes. For example, the value of private land can be better unlocked by adopting orderly urban planning and building infrastructure such as roads, civic services and metro lines.
The idle land parcels of the state government and other government entities, which are prone to encroachment, would be developed to generate a continuous stream of revenue for the state without selling these lands.
Instead of the direct sale of public lands, innovative recovery financing methods would be used to generate revenue for the State that does not involve the direct sale of public assets. The various successful recovery financing methods implemented in other states and countries will be carefully studied and the best methods in the state will be adopted, the statement said.
Furthermore, the Global Consultant's focus is on the rapid development of large industrial cities and urban services by leveraging private investments.
The Department of Finance is studying all measures and any proposal to raise resources will be in the public domain once it is properly developed. There is no reason for anyone to jump to conclusions based on preliminary ideas that are on the table, the government said.
The state government said that it is the fundamental responsibility of the Government to optimize resource mobilization without imposing undue burden on citizens. The Government is firmly focused on ensuring equitable economic growth so that the poorer sections of the society also reap some benefits from the rapid economic growth that the state is witnessing.
From this point of view, many measures are being proposed and considered. Our state has greater potential to raise additional non-tax revenue from sectors such as mining, advertising in urban areas, naming rights, etc.
Better tax compliance is also another measure being explored. Some of the recommendations also include a limited degree of monetization of non-strategic assets, but that does not have to mean the alienation or direct sale of government land, the government said in a statement.
There are several creative and smart ways to raise resources without selling government land or raising taxes. For example, the value of private land can be better unlocked by adopting orderly urban planning and building infrastructure such as roads, civic services and metro lines.
The idle land parcels of the state government and other government entities, which are prone to encroachment, would be developed to generate a continuous stream of revenue for the state without selling these lands.
Instead of the direct sale of public lands, innovative recovery financing methods would be used to generate revenue for the State that does not involve the direct sale of public assets. The various successful recovery financing methods implemented in other states and countries will be carefully studied and the best methods in the state will be adopted, the statement said.
Furthermore, the Global Consultant's focus is on the rapid development of large industrial cities and urban services by leveraging private investments.
The Department of Finance is studying all measures and any proposal to raise resources will be in the public domain once it is properly developed. There is no reason for anyone to jump to conclusions based on preliminary ideas that are on the table, the government said.
