"Stipulating mandatory consent requirement and social impact assessment even for core infrastructure verticals like affordable housing, rural electrification and industrial corridors will make the whole process very cumbersome and time consuming," CII Director General Chandrajit Banerjee said.
Pointing out that the ordinance had brought in the necessary changes and exemptions to the Land Acquisition Act, CII said the industry would have liked to see these going through in the current session of Parliament.
The 2013 Act by the earlier UPA Government had required consent of 70 per cent of landholders for PPP projects, and 80 per cent for private projects. However, the NDA Bill did away with this requirement.
The industry body further said it stands for equitable growth and fair compensation, and is hopeful that state governments will help industry grow and create assets in the right spirit and earnest.
"To boost the economic growth of the country it is necessary that keeping the interest of all the people in mind this bill should be passed with all required amendments so that without any further delay long standing project can be started.
"By doing so the Central governments Housing for All by 2022 scheme will also get a boost where real estate sector will play a major role. Scope to make future changes in the bill can be kept open for future references," he added.