Sell enemy properties valued at โ‚น1 lakh cr for driving growth: EAC-PM member Shah

India should look at selling enemy properties valued at over โ‚น1 lakh crore to take care of the current expenditure which will drive growth, Nilesh Shah, a part-time member of the Economic Advisory Council to the Prime Minister, said on Monday.

Both India and Pakistan had brought in legislations to take over enemy properties following the 1965 war. While Pakistan was able to liquidate the assets in 1971, India is 49 years behind, Mr. Shah said.

โ€œYou need to monetise government assets so that we have money available for spending,โ€ he said.

He said the assets were valued at โ‚น1 lakh crore three years ago and added that this is the best time to remove encroachments and clear title deficiencies to sell such properties.

Shah said there are 9,404 such properties under a government-appointed custodian taken over in 1965.

โ€œLiquidate these properties and raise โ‚น1 lakh crore or so to fund your expenditure,โ€ he said while replying to a question on ways to push up economic growth.โ€

Show Less Plan

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Faster pages

Move smoothly between articles as our pages load instantly.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.


A one-stop-shop for seeing the latest updates, and managing your preferences.

Personalised recommendations

A select list of articles that match your interests and tastes.


We brief you on the latest and most important developments, three times a day.

*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.