The Associated Chambers of Commerce and Industry of India (Assocham) has opposed forcible acquisition of farmers’ land for both public good as well as setting up of manufacturing facilities for India Inc. without adequately compensating farming community and even making them a stakeholder in such ventures.
In a statement, Assocham President, Dr Swati Piramal said that in the pending Land Acquisition Amendment Bill, a rider ought to be attached in one of its clauses so that agricultural land is not at all acquired by government and industry forcibly to prevent farming community, NGOs and other vested interests for causing social unrest and hurting public sentiments.
The Assocham chief further suggested that as far as possible in public and private projects for which land is being acquired from farmers, they should be persuaded to be stakeholders in such ventures to give them sufficient security for their future generation, besides providing for compensation and rehabilitation package which is worked out as per prevailing market prices.
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The suggested move will stop those that's land is being acquired from agitation which ultimately gets polarized by vested interests and puts heavy pressure on law and order machinery.
The Assocham has demanded that proposed 'Land Acquisition Amendment Bill' should be introduced in the parliament as early as possible and its smooth sailing be ensured in a manner so that future’s land acquisition are concluded in a logical manner without their possibilities slipping into controversies. In the meanwhile, the chamber has quoted its recent study findings of which reveal that delays in land acquisition for industrial and pubic projects could endanger investments worth US$ 100 billion in near future.
The study has suggested a 5 point strategy for adoption of solving land acquisition related problems among which the major proposal includes that besides, handsome compensation package, the land oustees should have a participation in the form of equity in public and private projects to give them a sense of belonging to it.
According to Assocham 22 major steel projects in the country worth US$ 80 billion are being held up due to procedural delays in opting various clearances in land acquisition mainly due to public protests. This has endangered 150 million tonne capacity target of steel industry by 2015 which includes projects belonging to ArcelorMittal, Essar Steel, Jindal Steel and Power Limited and Posco.
The Assocham has pointed out that close to 20 projects of India Inc. amounting Rs2.45 trillion remains on paper in the form of MoUs in last couple of years and this speaks about need for earlier facilitation of land acquisition bill in the parliament so that land is acquired in a cordial manner and investments including FDIs are absorbed in India as intended as per government's FDI policy.
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