National News Analysis

24 July 2024, 9:02 AM

A NICE WAY FOR THE GOVERNMENT TO FILL COFFERS ?

A nice way for the government to fill the coffers?

Bengaluru:The state government has started a serious effort to take over the much-controversial Bengaluru Mysore infrastructure corridors (BMIC) project of Nice Company and the legal process has started.

More than 80 cases against the scheme, including land acquisition disputes, will be tried before a single bench and action will be taken for speedy settlement.  After that, it is the intention of the government to take over the entire project.  In this regard, the Legal Department prepares AC.

A House committee report of the Legislature has confirmed violations of the original contract, including allegations of financial fraud and land grabbing against the Nice company, which will allow the government to cancel the contract and take over the project.

The government has taken this step as per the advice given by the department and the recommendation of the cabinet sub-committee.  Importantly, the expiry of the 30-year lease of the Nice Company has also eased the way for the government.

How to fill the coffers?  For ‘guarantees’

The government, which was looking for alternative financial resources, found Nice as a way.  Thousands of crores of rupees in the form of fines and development charges through the regularization of revenue estates.  Apart from the fact that it can be collected, the unused land for the project, especially the thousands of acres of land around peripheral and link roads, will become a huge resource for the government.

Calculation done.

If the project is taken over, property worth thousands of crores will get into the hands of the government, and crores of Rs.  The toll amount will also go to the treasury.  Importantly, despite the notification of Section 3(1) of the KIADB Act, without the notification of Section 28(4), there is hope that the landowners and farmers will be able to find solutions to their problems.

What is the effort?

Expedited legal process for acquisition of IC

Serious effort for speedy disposal of court cases

What is the expectation?  God

.Crores of Rs.  A ‘guarantee’ eye on the resource

Computation of Relief to Insecure Landowner Farmers

Thousands of crores of rupees are on the way to Nice. 

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