Letter to BS: NHAI issuing land bonds is a win-win solution for economy

The outright purchase of land involves heavy expenditure by the NHAI when land is purchased at substantial cost especially in urban areas

This refers to your article “NHAI to issue land bonds for acquisition from states" (November 19). The procedure converts expenditure into investment for rational utilisation of the fiscal resources by both the Centre and the states. Improvement in infrastructure is a job in progress as the economy develops and requirements change. The outright purchase of land involves heavy expenditure by the National Highways Authority of India (NHAI) when land is purchased at substantial cost especially in urban areas. It is a wasteful outflow of capital for NHAI and consequently, a financial risk. Such funds can instead be ploughed back as