Buying land in J&K
#GS2 #Laws #Polity #Governance
People, including investors outside Jammu and Kashmir can now purchase land in the Union Territory as the Centre has notified new land laws for the region, ending the exclusive rights enjoyed by the local population over land under the now-diluted Article 370.
What are the changes now?
- Under the new J&K Development Act, the Centre has omitted the term “permanent resident of the State”, paving the way for investors outside J&K to invest in the Union Territory.
- According to amendments made to the Jammu & Kashmir Land Revenue Act, Samvat, 1996”, only agriculturists of J&K can purchase agricultural land. “No sale, gift, exchange, or mortgage of the land shall be valid in favour of a person who is not an agriculturist,” it reads. No land used for agriculture purposes shall be used for any non-agricultural purposes except with the permission of the district collector.
- The Act enables transfer of land “in favour of a person or an institution for the purpose of promotion of healthcare or senior secondary or higher or specialised education in J&K”.
- An Army officer not below the rank of Corps Commander can declare an area as “Strategic Area” for operational and training requirements of the armed forces.
- Bangladesh’s economic progress
- The IMF’s recent per capita GDP projections for South Asian countries show that Bangladesh, which has been doing better than both India and Pakistan on social and human development indicators for several years now, is also beginning to march ahead on the economic front.
How did Bangladesh manage to progress this far?
- Following some turbulence in the years after independence due to famine and natural disasters, overall progress since the 1990s has been good. Consider –
- Average GDP growth for Bangladesh has been higher than the world’s average GDP growth over the last three decades; it has been higher than the average growth rate of South Asia since 2010. Bangladesh’s average economic growth has steadily increased in each decade since 1980. In 2018, Bangladesh emerged as one of the fastest-growing economies in the world.
- The contribution of agriculture in Bangladesh’s GDP has declined steadily, while that of manufacturing and services has increased. In 1980, agriculture accounted for almost a third of the GDP; industry for less than a fifth. In 2018, the contribution of agriculture to GDP had fallen to less than 15%, and industry now accounts for more than a third. The contribution of the manufacturing sector to GDP has doubled since 1980.
- Exports have been buoyant since the 1990s. They have risen from less than the US $2 billion in FY92 to more than the US $40 billion in FY19 – growth by a factor of (approximately) 20 in 37 years.
- Remittances have risen fast after FY91, from approximately US $764 million to more than US $16.4 billion in FY19. Bangladesh is among the world’s top 10 remittance-receiving countries, even though the difference in remittance earnings of Bangladesh and countries with far smaller populations (such as the Philippines) is very large — which underlines that Bangladeshi remittances come from low-wage labour.
- Despite such weaknesses, Bangladesh has received more than $18 billion in remittances this year, which has helped stabilise the aggregate demand shock from the pandemic induced lockdown.