CII to increase land acquisition cost by three times
Indian industry has expressed serious concern on the new land acquisition. Confederation of Indian Industry (CII) has said that it will increase land acquisition cost by three times making projects unviable.delhi Updated: Aug 29, 2013 22:48 IST
Indian industry has expressed serious concern on the new land acquisition. Confederation of Indian Industry (CII) has said that it will increase land acquisition cost by three times making projects unviable.
“The resettlement & rehabilitation cost is also likely to go up by about three times compared to the prevailing practice. The Bill compensates different categories of affected families at par, not aligned to their losses,” said S Gopalakrishnan, president, CII.
“The Bill would also lead to major delays in the process of land acquisition. Consent of 80% of affected families for private sector and 70% of affected families for public private partnership (PPP) projects under ‘Public Purpose’ in the bill would make the process of obtaining consent a very long drawn out process,” added Gopalakrishnan.
Videocon Industries chairman Venugopal Dhoot said that rehabilitation of farmers would be difficult for the industry. “The new bill is a win-win situation for both the industry and the farmers. The industry was in loop when the bill was finalized. However, it will be difficult for industry to implement the rehabilitation part.”
In a function in Mumbai, FICCI president Naina Lal Kidwai said, “Land bill in its current form needs a relook and the system of land allotment should be made totally transparent and e-based.”
First Published: Aug 29, 2013 22:36 IST