A functioning land market is imperative as India is becoming less of an agrarian economy due to the phenomenon of urbanization. Discuss (200 Words)
Refer - Financial Express
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IAS Parliament 2 years
KEY POINTS
· The government must address its unfinished reform agenda to free up the land market if its $1.4-trillion infrastructure-led push for growth is to bear fruition.
· IIM-Ahmedabad’s new agri-land price index (ALPI) developed in collaboration with digital agri-land market place Sfarms India must therefore be welcomed as a beginning of a process to free up the land market by removing uncertainty in agricultural land valuation.
· The index would act as a reliable source for benchmarking land prices and help in potential conversion of agricultural land into real estate or for industrial use.
· This process of development has been highly conflict-prone as land acquisition is being contested by villagers, and tribals, who believe their land is being acquired for a song.
· Land acquisition was an important factor behind a FDI steel project in Odisha getting shelved seven years ago. The project to make the world’s cheapest car also had to relocate to another state due to land conflict.
· The framework of restrictions on the transferability of land rights, depending on the type of land, proposed land use, and the occupational or residential role of the interested buyer also must be addressed.
· The Registration Act 1908 and state revenue laws, for instance, require the completion of two separate processes to effect a land transfer.
KAUSHIK SRINIVASH R 2 years
KIndly Review..
IAS Parliament 2 years
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