Cash-strapped Mann govt to raise funds against properties

AFTER the scrapping of the controversial land pooling scheme, the cash-strapped Punjab government finds itself in a dilemma as it attempts to mop up revenue to fund their welfare schemes.

- HARPREET BAJWA @Chandigarh

AFTER the scrapping of the controversial land pooling scheme, the cash-strapped Punjab government finds itself in a dilemma as it attempts to mop up revenue to fund their welfare schemes. Now, in order to raise a loan for this purpose, the government is eyeing to mortgage properties worth ₹20,000 crore, under the Greater Mohali Area Development Authority (GMADA).

On the other hand, it has temporarily withheld its decision to increase the collector rates of land in all districts to at par with existing market prices due to the prevailing "negativity" towards the ruling party.