Land acquisition is still a concern for Karnataka government
Land acquisition continues to be the biggest hurdle for implementing projects in Karnataka. About 389 projects will be launched in Karnataka. The Memoranda of Understanding (MoU) for those projects were signed in the Global Investors Meet (GIM).
All those projects will draw an investment of Rs 3.92 lakh crore in the state.
Majority of the projects will be suffered due to the land-related problems. As the Karnataka Industrial Areas Development Board (KIADB) is still not be able to form the new industrial areas for the proposed projects by acquiring land.
The land acquisition process is being delayed in the absence of a time frame for issuing the final notification, thus delaying compensation to farmers.
Currently, the KIADB offers compensation on the basis of the guidance value of land. And the price fixation committee recommends higher compensation depending on the market value. But there is no rule or norms to determine the market value.
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Source: Deccan Herald
