We are exploring a lot of options to raise funds for the loan waiver: Sudhir Mungantiwar
The Maharashtra government may sell off its vacant plots to raise funds for the Rs 30,000 crore waiver granted by it on farmers' loans.
Chief Minister Devendra Fadnavis announced a complete loan waiver worth an estimated Rs 30,000 crore. "We have been asked to identify open and vacant plots that can fetch a good amount. We have identified a few plots in Worli and Bandra, and some in Navi Mumbai. The government is planning to sell off these plots in the open market through auctions," an urban development department official said on the condition of anonymity. He added that these plots could fetch over Rs 10,000 crore in auctions.
"We are also planning to increase the ready reckoner rates and sell the premium in the way of Floor Space Index (FSI) and Transfer of Development Rights (TDR). This move will help to raise an additional Rs 10,000 crore. We are coordinating with the revenue and urban development department," said an official from the state finance department.
Finance Minister Sudhir Mungantiwar said that the state government was committed to waiving off the farmers' loans. "We are exploring a lot of options to raise funds for the loan waiver. We cannot say what exactly will be done, but we are confident of raising the total farmers' loan waive off amount," he said.
"We have got land which has been illegally encroached. If the encroachers remain for a long time, then it is becomes difficult to remove them. It is better to monetise these lands and help the farmers. Land is only immediate option to raise the money, because the Centre had already clarified that they will not extend any sort of financial help for farmers' loan waiver. Thus we have to sell off our plots," said an official from the state urban development department.
Maharashtra has got over Rs 3 lakh crore in loans and the majority of its revenue has been going towards paying the interest. "We had very little scope to take loans from the market, so selling off government plots is a workable option. Very soon, we will come up with a plan for auctions," said a senior government official.
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