FICCI asks for change in the Land Acquisition Bill
The Federation of Indian Chambers of Commerce and Industry (FICCI) has expressed concern over high rehabilitation and resettlement (R&R) cost to be incurred by industry in the proposed Land Acquisition Bill.
FICCI has asked the government to make changes in the provision stating that current R&R provisions of the bill will put an unfavorable burden on the industry as it will escalate the land cost at least by three to four times.
It also hoped that the proposed bill in its current form is not passed as chambers thinks that it would not be favourable for overall economic development of the country. The industry body stated that it will not be viable for the industry to acquire or purchase land for manufacturing or infrastructure purposes under the current bill.
economic development, Federation of Indian Chambers of Commerce and Industry (FICCI), Indian industry, Infrastructure, Land Acquisition Bill, Land cost, manufacturing, rehabilitation and resettlement (R&R) cost
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