A decision to this effect was taken in a specially convened meeting of Cabinet chaired by the Punjab Chief Minister Parkash Singh Badal here this evening.
A Chief Minister's Office spokesperson said the record of rights would stand amended and modified to that effect by the concerned Revenue authorities from the date the Act is notified.
The Cabinet also gave approval to the draft bill, which stipulated land owners or their successors-in-interest would repay the total compensation amount, along with all statuary benefits accrued to them and the rate of interest to be notified by the government, in 60 equal instalments starting from the six month from the date of notification.
The bill also envisaged that the provisions of this Act would have overriding effect notwithstanding anything in consistent herewith contained in any act, rule, judgement, decree, notification, order or any other instrument having the effect of law.
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Badal had yesterday moved a resolution saying that Punjab was primarily an agrarian state and river waters were its lifeline.
However, after the partition of the country, Punjab had been subjected to continuous discrimination and injustice, the resolution said.
According to Riparian principles, Punjab had absolute right over its river waters but through various agreements and decisions it had been robbed of its due share.
"Now the situation has become extremely grave and to tolerate this injustice would amount to signing a death warrant of Punjab and Punjabis. Punjab did not have a single drop of water to share with anyone," the resolution said.
The House resolved not to accept any decision against injustice to river waters of Punjab, and said any attempt to divest river waters of Ravi, Beas from Punjab and forceful construction of SYL canal on Punjab would not be tolerated.