Delhi Approves Ex Gratia Relief For Farmers:

• Rainwater backed up in their fields, destroying the crops supposed to be gathered. For Rs 53 crores, the state government has set aside 29,000 acres.

• Unseasonal rains in September and October 2021 wreaked havoc on farmers around the capital. Due to the storms, water from adjacent drains overflowed onto the farms, causing extensive damage.

• The Delhi government has set aside compensation cash to solve the problem. A delegation from the state administration had been dispatched to survey the damage. 

• The money was distributed following the team`s report. If the loss is less than 70%, the compensation will be paid at a rate of 70%. 

• If the loss is greater than 70%, the compensation must be given in full. The Delhi government has undertaken research to determine the region`s crop acreage.

• According to the report, the area has 29,000 lands under cultivation. There are also 21,000 farmers in the area. 

• The study also revealed the main worries of the region`s farmers. Crop loss, input expenses, the minimum support price, and so forth. The study`s findings have yet to be released.

National Land Monetisation Corporation By Central Government

• CPSEs have so far referred 3,400 acres of land and other non-core assets for monetization to the government.

• CPSEs like MTNL, BSNL, BEML, BPCL, HMT Ltd, B&R, and Instrumentation Ltd have referred land.

• Because the needed skill set to accept management duty and monetization responsibility of non-core assets in government is limited, Finance Minister Nirmala Sitharaman announced the establishment of a Special Purpose Vehicle (SPV) in the 2021-22 Budget. 

• The SPV was formed to efficiently and sensible monetize the land and non-core assets in conformity with worldwide best practices.

• The NITI Aayog oversees the monetization of core assets, while the Department of Investment and Public Asset Management oversees the monetization of non-essential assets (DIPAM).

National Land Monetisation Corporation:

• In accordance with the Budget statement, the National Land Monetisation Corporation (NLMC) is being established. 

• It is being established as a wholly-owned subsidiary of the Indian government. The first approved share capital would be Rs 5,000 crore, with Rs 150 crore in subscribed share capital.

• It serves as an asset manager for lands controlled by the federal government and central government-owned businesses (CPSEs). 

• It can invest, lease, rent, or monetize assets based on recommendations from a variety of sources. 

• The development of assets for commercial or residential uses is unrestricted. 

• According to the Economic Survey 2021-22, the Union government`s key assets have a total monetization potential of Rs 6 lakh crore during a four-year period, from 2021-22 to 2024-25.

• Roads, railways, oil and gas pipelines, power, and telecommunications account up 83 percent of the total value.

National Current Affairs February 1st Week 2022