"...You cannot take a view which is regressive, which prevents the growth of manufacturing. Virtually it would dampen the investors sentiment," Sharma told reporters here.
A Parliamentary Standing Committee in a report presented yesterday set tough conditions for land acquisition and said the government should not acquire land for private businesses and underlined the need for a clearer definition of "public purpose" in this regard.
It has also said that all cases of land acquisition must entail obligations for adequate compensation besides rehabilitation and resettlement of all land losers and other affected persons.
Sharma said the suggestions are not "acceptable" as it would "stop" manufacturing in the country. "We have to encourage investments especially in manufacturing sector, then only jobs will be created".
"I have taken on board the concerns of the industry. We will be placing this very firmly before the cabinet because we cannot take any step which in fact goes against the original spirit and de-industrialise the country or brings down industrial growth and investment," he said.
The minister said that states have an important role in zoning of the land and they are acquiring land to set up national investment and manufacturing zones (NIMZs), which aims at creating 100 million jobs in the next decade and increase share of manufacturing from 16 per cent at present to 25 per cent by 2022. (MORE)
