Ground rules

Land acquisition being a concurrent subject,each state is free to shape its own legislation. But this Central bill seeks to end the coercive takeovers of the past,and also recognises the legitimate demands of infrastructure development,industrialisation and urbanisation. It has to address the rising expectations of land-owners and the opportunity cost of land,but there is no getting away from the fact that industries and cities make more productive use of the resource than farming does. This bill has accommodated both imperatives. By making buyers pay more twice the market value in urban areas and four times in rural ones the debate will shift to one of fair compensation,rehabilitation and stakes,rather than sentimental stories of exploitation and grievance. A social impact assessment will consider the benefits of the project as well as those directly affected,and set rehabilitation and resettlement expectations within a strict time-frame. While industry may complain about having to pay more,it must welcome the end of bitter struggles over each acquisition. Already,in states like Punjab and Haryana,land acquisition is relatively friction-free because they have instituted fairer compensation to those who are parting with their land. This legislation,if passed,will not only increase the availability of land,it will make the process smoother and more stress-free for everyone concerned.

It will make sure that a business properly factors the value of land into the estimated costs of a project,rather than relying on the states power to acquire it at throwaway prices. Having to consider these costs will also make sure that companies use space efficiently and minimally,rather than creating sprawling land banks,or entire townships. It will allow farmers to consider their best interests rather than being confined to their land forever,and let them sell without feeling cheated or forced into it. If it is passed this session,this law could settle one of the most persistent blocks in the way of Indias growth.

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