CAG Slams RLDA: Massive Delays, Undervaluation, Billions in Revenue Lost

• CAG report highlights serious shortcomings in Rail Land Development Authority (RLDA) operations, citing delays, poor execution, and massive revenue losses.
• RLDA failed to develop any of the 35 awarded commercial sites by March 2023, despite being entrusted with 998 hectares of vacant railway land.
• Only 14 out of 53 multi-functional complex projects were completed, and financial performance was severely below expectations, earning only 10.14% of projected revenue.
• Audit found significant undervaluation of sites (e.g., Ashok Vihar by ₹204.22 crore) and improper discounts, leading to substantial financial losses.
• Systemic issues include unresolved land disputes, encroachments, weak consultant management, and failure to recover ₹40.71 crore in dues and guarantees.

Why It Matters: CAG report reveals RLDA's severe failures in monetizing railway land, leading to huge revenue losses.