Land Bill Aims to Increase Compensation for Indian Farmers

Posted September 7th, 2011 at 12:20 pm (UTC-5)
Leave a comment

India's parliament has introduced a new land acquisition bill aimed at addressing the concerns of rural farmers forced to sell their land for the country's industrial development.

The legislation, spearheaded by the ruling Congress Party, is intended to replace a centuries-old land acquisition law.

Under the bill, the government would pay farmers prices four times higher than market rates for their land. In areas where private firms are buying 50 acres of land in urban areas or 100 acres of land in rural areas, companies would also be required to make resettlement and annuity payments.

The long-awaited bill was delayed for months by a series of anti-corruption protests in the country. A final version is expected to be voted on during the next session of parliament, which starts in December.

The politically-charged issue has delayed many large-scale development projects in India.