With elections in the offing and the UPA government adamant on pushing its socialist agenda, the Land Acquisition Bill will be taken up in Lok Sabha on Thursday. The adverse effect of the passage of the Food Security Bill on the bourses notwithstanding, the Land Acquisition Bill comes just two days after the former was passed by the Lok Sabha.
The bill seeks to provide ‘just and fair compensation to families whose land has been acquired for industrial purposes.’ It proposes payment of compensation that is up to four times the market value in rural areas and two times the market value in urban areas. It is being brought for consideration and passage after two all-party meetings, which made the government accept five key amendments suggested by BJP leader Sushma Swaraj and Left parties.
Among the amendments approved by the cabinet was the one suggested by Swaraj that instead of acquisition, land could be leased to developers so that its ownership remain with farmers and provide them regular annual income. Swaraj also suggested provision for payment of 50 per cent compensation to original owners whose land was purchased after introduction of the bill in Lok Sabha in September 2011. The cabinet also agreed to this suggestion.
In cases where PPP projects are involved or acquisition is taking place for private companies, the Bill requires consent of no less than 70 per cent and 80 per cent respectively in both cases of those whose land is sought to be acquired.
The bill seeks to provide ‘just and fair compensation to families whose land has been acquired for industrial purposes.’ It proposes payment of compensation that is up to four times the market value in rural areas and two times the market value in urban areas. It is being brought for consideration and passage after two all-party meetings, which made the government accept five key amendments suggested by BJP leader Sushma Swaraj and Left parties.
Among the amendments approved by the cabinet was the one suggested by Swaraj that instead of acquisition, land could be leased to developers so that its ownership remain with farmers and provide them regular annual income. Swaraj also suggested provision for payment of 50 per cent compensation to original owners whose land was purchased after introduction of the bill in Lok Sabha in September 2011. The cabinet also agreed to this suggestion.
In cases where PPP projects are involved or acquisition is taking place for private companies, the Bill requires consent of no less than 70 per cent and 80 per cent respectively in both cases of those whose land is sought to be acquired.