New Delhi, Aug 29: Probably, a good news for those who have lost their lands to industrial acquisitions, the Land Acquisition Bill will be pushed in the Lok Sabha today. As Congress shows its second trump card for the UPA elections 2014, the Bill's role in the ruling party's win is still debatable.
What does the Bill mean?
It aims to revise the century-old land acquisiton laws of 1894, which speaks of "just and fair" compensation. As per the new Bill, proposed by the Congress, landowners whose land is being acquired for industrial development will be paid four times the market value in rural areas and two times the market value in urban areas.
However, the industries of India believe that the proposition is very costly. It further aims to make the landowners partners in development. Making it even more cumbersome is the fact that acquiring land for public-private partnerships will require the consent of 70 per cent of the landowners in the area that are being acquired.
On the other hand, at least 80 per cent of the owners will have to agree for private companies to acquire such land. This will ensure that a land is lawfully acquired and not by force.
Is the law foolproof?
No, it is not. While it takes care of the needs of the common man to some extent, it might create a setback for the industrial sector.
Experts believe that if the land acquisition bill is passed, acquiring land will become a long-drawn process and a cumbersome one too. Furthermore, investors my be put off by the time consuming process and the sliding economic situation.
Who support it?
The pet project of Rahul Gandhi, it was conceptualised when he took up cudgels up against the Uttar Pradesh government, which was led by Mayawati then.
Among the parties that support it are BJP. The left and the Trinamool support it on conditions that it be sent to the a parliament panel for clearance.
Rural Development Minister Jairam Ramesh, who will move the Bill in the Lok Sabha today, said, "The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2012 conveys the government's determination to address widespread and historical injustices".