The decision to amend the Land Acquisition Act to make it less difficult for implementation indicates government's willingness to undertake bold reforms for development. Fast tracking procedure for defence, rural infrastructure, affordable housing, industrial corridors and PPP projects is laudable as it will give a kick-start to a large number of stalled projects, thus re-invigorating investment and growth cycle, said Dr. Jyotsna Suri, President, FICCI.
FICCI has repeatedly advocated that the Land Acquisition Law should be made practical and equitable, and must provide certainty and fairness to all stakeholders. We do hope that easing of procedural difficulties will be extended to all projects, added Dr. Suri.
We continue to urge the government to keep private purchase out of the ambit of the Act. The process of price discovery is natural in case of transactions involving willing seller and willing buyer and there is no need for additional compensation. Such transactions should thus not be subjected to additional R&R stipulations, Dr. Suri stated further.
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