Union Budget 2024-25: Major Land Reforms Announced by Finance Minister

In the Union Budget 2024-25, Finance Minister Nirmala Sitharaman unveiled incentivized land reforms in rural and urban areas, with completion targeted within three years, supported by fiscal measures.

In the Union Budget 2024-25 presented in Parliament on Tuesday, Union Finance Minister Nirmala Sitharaman announced major land-related reforms in both rural and urban areas. She stated that these initiatives would be incentivized for completion within the next three years through appropriate fiscal support.

According to a release from the Ministry of Finance, the reforms will encompass land administration, planning and management, urban planning, and building by-laws. In rural areas, actions will include the assignment of a Unique Land Parcel Identification Number (ULPIN) or Bhu-Aadhaar for all lands, the digitization of cadastral maps, and surveys of map sub-divisions aligned with current ownership.

In urban areas, the Finance Minister highlighted the digitization of land records with GIS mapping, as well as the establishment of an IT-based system for property record administration and tax management. These measures aim to improve the financial position of urban local bodies. (ANI)