Lok Sabha passed a bill to free the ailing National Textile Corporation (NTC), which has property worth Rs. 25 lakh crore, from rent control laws. The Textile Undertakings (Nationalization) Laws (Amendment and Validation) Bill, 2014 replaces an ordinance passed by the Government. According to the bill, there is a need to protect public investment in the acquired textile undertakings to explicitly clarify the status of such vesting of the lease-hold rights in the Central Government. Santosh Kumar Gangwar, Textile Minister said, “We are not here to sell the land, we want to revive the mills, and to make a package for the revival. We need to evolve various ways and means to run the mills. It is our objective to give employment to more and more people.”
