Welcoming the Cabinet's decision to amend the Land Acquisition Act, India Inc today said the changes will boost infrastructure development and housing construction besides speeding up the process of acquiring land.
Industry body CII said it views the Cabinet's approval to the Ordinance on the new Land Acquisition Act as "a serious commitment" to economic reforms.
"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 per cent consent from affected families," the chamber said in a release.
"The Indian industry wholeheartedly welcomes the much needed changes in the Land Acquisition Act. The government has achieved a good balance between interests of farmers and development needs," Assocham President Rana Kapoor said.
Government today recommended promulgation of an ordinance making significant changes in the Land Acquisition Act including removal of consent clause for acquiring land for five areas of industrial corridors, PPP projects, rural infrastructure, affordable housing and defence.
