He constituted the committee during a meeting with the General Officer Commanding 4 Corps, Lt General D Anbu, who called on him, an official release said.
Khandu advised the committee to frame the policy in consultation with the Centre and submit the report within one month.
The policy would accelerate land acquisition process by the Army and other paramilitary forces in the state.
The Chief Minister asked the Chief Secretary to create a separate division to look into the land acquisition process for Army, paramilitary forces, SSB and other central government organisations.
Khandu further said the state government would extend every possible support to the Army.
Deputy Chief Minister Chowna Mein, Chief Secretary Shakuntala Gamlin and Principal Secretary (Home) Satya Gopal were present at the meeting, the release added.