About USD 285.71 million project
The composition of the financing
The International Bank for Reconstruction and Development (IBRD) would finance USD 200 million (70%) and the Punjab government USD 85.71 million (30%).
Components of the project
The component of the project includes the following:
USD 11.61 million to strengthen urban water supply service management; USD 240.38 million to improve water supply infrastructure; USD 15.62 million for land acquisition and rehabilitation; USD 10 million for COVID crisis response; USD 7.6 million for project management
The Punjab government in June 2018 through the Department of Economic Affairs (DEA), Government of India requested the World Bank to support Punjab for this purpose.
Amendment to the Land Pooling Policy
The amendment to the Land Pooling Policy is made for the residential Sector and its extension to the Industrial Sector in the jurisdiction of the Greater Mohali Area Development Authority (GMADA).
As per the amended policy:
Residential and Commercial Plots
1000 square yards of developed residential plots and 200 square yards of the commercial plot, excluding parking, will be given in lieu of cash compensation for every one acre of land to be acquired from landowners for the upcoming Aerotropolis Residential Estate.
i.The validity of the ‘Sahuliyat Certificate’ will be given to the landowners opting for land pooling policy.
ii.They will be provided with certain benefits during the purchase of equivalent value of land and will be counted from the date of allotment of plot to the landowner.
iii.The certificate holders will be entitled to get an exemption from Stamp Duty among others.
Recent Related News:
i.Odisha cabinet approved the proposal to give the status of State anthem to “Bande Utkala Janani”, a poem written by Kantakabi Laxmikanta Mohapatra in 1912.
ii.Madhya Pradesh Cabinet approved to form trust for ‘Ram Van Gaman Path’ project.
Governor– Vijayender Pal(V.P.) Singh Badnore