President gives nod to land Bill

The Land Acquisition Bill,passed by the Parliament during the Monsoon Session to replace a 119-year-old legislation,became a law with President Pranab Mukherjee giving assent to it Friday. The Right to Fair Compensation and Transparency in Land Acquisition,Rehabilitation and Resettlement Bill,2013 has received the assent of the President of India, a Law Ministry release said. The legislation would provide just and fair compensation to farmers while ensuring that no land could be acquired forcibly. The Bill was passed by both Houses of Parliament with overwhelming majority. Meanwhile,the Rural Development Ministry is in the process of framing the rules for the new Act.