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CII views the cabinet's approval to ordinance on the new land acquisition act as a serious commitment to economic reforms

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Capital Market
Last Updated : Dec 31 2014 | 8:36 PM IST
CII has always advocated the need for a simple and transparent Land acquisition framework, which is also commercially affordable for industry.

CII whole heartedly welcomes the fact that the government has incorporated our suggestion to exempt projects in certain important sectors like defence, rural electrification, rural housing and industrial corridors from the mandatory 80% consent from affected families.

Further, exemption of these projects from social impact assessment is also a welcome and crucial initiative.

Industry has also suggested that PPP projects should be exempted from mandatory consent requirement as the land ownership in such cases rests with the Government.

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First Published: Dec 31 2014 | 11:34 AM IST

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