"These colonies were formed because there are economic opportunities in metro cities. Lakhs of people migrate from villages to these areas and since Delhi is the capital of the country it attracts a lot of people..," he noted.
The Finance Minister was speaking to reporters at his residence where Delhi BJP leaders had gathered to felicitate him for the Union government's "pro-people decisions".
"Previous governments have not worked in this direction and people were living in colonies where basic amenities are not available. Our government has decided to regularise these colonies and all the amenities provided in the developed colonies will be extended to these areas so that the quality of life can be improved in these areas as well," he said.
"There was a threat of sealing and demolition on lakhs of houses, industries and shops in Delhi. We have extended the deadline until a solution is found to the problem as per law.
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"We have also decided to regularise all the unauthorised colonies built till 2014, the date has been extended from 2002 to 2014. This will benefit 60 lakh people and there are hundreds of such colonies which have been regularised," he said.
The Union Cabinet had on December 29 approved an Ordinance in this regard. 895 unauthorised colonies of Delhi, which had come up till June 1 this year, will be regularised as per the ordinance.
BJP leaders Vijay Goel, Vijendra Gupta, Ramesh Bidhuri and Vijay Jolly were also present on the occasion.