KOCHI: The Lakshadweep administration has decided to wind up Lakshadweep Building Development Board (LBDB) alleging deficiencies in its functioning. The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the proposal for promulgation of the Lakshadweep Building Development Board (Repeal) Regulation.
According to the administration, the LBDB has been disbursing un-targeted subsidy, which is not in sync with modern-day requirement. Un-targeted subsidies are inherently regressive and precipitate inefficiency, inequity and profligacy.
Several deficiencies were found in the functioning of the board during audit. The LBDB has not met its intended objectives and the administration has been incurring substantial expenditure on the operation of the board, the administration said in a release.
The decision will relieve the island administration of avoidable financial burden. The market is now developed enough to take care of the needs of the people for supply of building materials. For vulnerable and targeted sections, the administration is already implementing Pradhanmantri Awas Yojna-Gramin, said the release.