“Land Acquisition” seems stable
The Right to Fair Compensation, Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 is a complex but comprehensive legislation. It aims at providing just and fair rehabilitation of even the minimally-affected people, favours greater transparency and gives importance to prior consultation with local bodies and landowners. The century-old Land Acquisition Act (1894) is now replaced with the ACT that came into force from January 1, 2014. The act seeks to fix deficiencies by focusing preponderating on equitable compensation to farmers and integration of acquisition with resettlement and rehabilitation. Though many have labeled it as the UPA government’s ‘vote politics law’ in view of the ensuing national elections in May, the need for an improved and contemporary piece of legislation for land acquisition was felt with nearly 70 percent of the investment stuck in projects stalled due to opposition to the acquisition of land for these projects. Tata Motors’s experience in Singur, West Bengal, where it had originally planned the factory for Nano, is one such example.
Source: The Financial Express
Acquisition of land, investment stuck in projects, land acquisition, Land Acquisition Act, Rehabilitation and Resettlement Act, Transparency in Land Acquisition
