csandeepreddy wrote: Hi,
My sincere advice to all of you is to avoid the source of this question. my reasons for saying this are as follows:
In the part of the stimulus which is not underlined, there is a terrible idiom error.

As a means + gerund. Therefore, the stimulus should have read 'as a means of deriving'- the infinitive cannot be used. As you know, only the underlined portion of the stimulus may have errors.
In 'A'- 'the laying of' is awkward.
In 'B' the article (the) is used unnecessarily.
In 'C' 'The laying of' is awkward.
In 'D' there is a passive voice and the whole choice is awkward.
In 'E' 'land that was public' is wordy.

So, this question does not seem to have an answer.

Public-access cable television was created in the 1970s as a means to derive public benefit from the laying of private television cables on public land.

A. from the laying of private television cables on public land
B. from laying private television cables on the public land
C. by the laying of private television cables on the public's land
D. from private television cables being laid on public land
E. by laying private television cables on land that was public