Minority Affairs Minister K Rahman Khan said the Waqf Amendment Bill, 2010, will ensure proper commercial utilisation of Waqf property and generate revenue to the tune of Rs one lakh crore annually, sufficient for socio-economic development of the entire Muslim community.
The bill to bring changes in the Waqf Act, 1995, carries proposals to strengthen Waqf institutions and streamline their functioning.
The bill was earlier passed by Lok Sabha in May 2010. It was, however, referred to a select committee when it came up in Rajya Sabha on August 27, 2010 amid vociferous objections to some of its provisions from some Muslim bodies including All India Muslim Personal Law Board.
The amended bill will now go back to the Lok Sabha to endorse the changes approved by the Upper House.
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Khan admitted that under the present law, the Waqf Boards in the states were not functioning properly.
Noting that survey of the Waqf property is important, he said that from now on "all survey work has to be completed within one year and the states should appoint a surveyor for the purpose".
"This would be sufficient for taking up socio-economic development of the Muslim community," the Minister said.
The government, he said, will maintain the list of Waqf properties and not the Waqf boards.