Bill to amend Transfer of Property, Alienation of Land Acts tabled

Excelsior Correspondent
JAMMU, Mar 5: Minister of State for Revenue, Aijaz Khan today tabled on the floor of Legislative Assembly a bill to amend the Jammu and Kashmir Transfer of Property Act and Jammu and Kashmir Alienation of Land Act.
In the statement of objects and reasons, the Minister said, “the main reasons of amendments in respect of incorporation of Jammu and Kashmir Development Finance Corporation Ltd is to carry on and transact the business of providing credit facilities and other infrastructural support for promotion, expansion and modernization of industrial enterprises in order to accelerate industrial development, generation of employment and faster economic growth by granting financial assistance in the form of loans or advances”.
“Indian Red Cross Society State Branch is being incorporated in the principal act on the ground that it is a humanitarian society providing services to people in distress without any discrimination”, the Minister added.

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