States co-operate with the govt for new land acquisition laws
The State governments are against the new land acquisition law. They fear that the provisions will adversely impact infrastructure projects and the overall investment temperament in this sector will dampen due to it.
On Monday, the representatives of state governments raised the issue and sought additional fund allocation for the infrastructure sector. They also demanded for the rationalisation of taxes, restructuring of state electricity boards’ debt and steps to curb inflation. These demands were placed in the four-hour pre-budget consultation with the Union finance minister Arun Jaitley.
The state governments are worried about certain provisions of the new land acquisition law and environment law and fear an adverse impact on completion of critical infrastructure projects. The state finance ministers showed keen interest in the new government’s key initiatives such as the plan to clean the Ganga and develop waterways. They raised several queries in this regard at the meeting and it appears that they will take positive steps in their respective states on these issues.
Jaitley mentioned that the Centre and states will have to manage the affairs of the economy and solve the problems together as a “team”. He requested the states to look at the budget constraints of the centre and put forward their demands accordingly. The finance minister wants to take up strong measures to and set up special courts to stop hoarding and black marketeering. He requested the state governments to look into the supply-side bottlenecks to ensure smooth demand and supply system which will ensure steady prices of day to day commodities.
Source- The Economic Times
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