Arab Today, arab today indian cabinet eases rules on land acquisition
Last Updated : GMT 15:59:42
Arab Today, arab today
Arab Today, arab today

Indian cabinet eases rules on land acquisition

Arab Today, arab today

Arab Today, arab today Indian cabinet eases rules on land acquisition

Indian Finance Minister Arun Jaitley
New Delhi - AFP

India's cabinet on Monday approved an executive order to make it easier to acquire land for the power generation, housing and defence industries, a move aimed at kickstarting stalled infrastructure projects.
The cabinet passed amendments to contentious land acquisition rules which analysts say have been holding up projects.
Finance Minister Arun Jaitley said land needed for five categories of projects -- including national security, low-cost housing and rural infrastructure -- would be exempted from general rules laid down for acquisitions.
He said the amendments aimed to achieve "a fair balance" between landowners' rights and streamlining the process of purchasing land for the five categories.
"If land is needed for these five activities, rules will be relaxed while higher compensation to farmers whose land is acquired will continue to apply," Jaitley told reporters, insisting that the interests of farmers were paramount for the government.
Under the present law, those seeking to acquire land must have the consent of 80 percent of the affected landowners and must compensate landholders up to four times the market price.
Business groups have complained the rules are skewed too heavily in favour of landowners.
The executive order must now be approved by the next parliamentary session which starts in February.
Restrictions on buying land, under a law championed by the previous Congress government, have been cited as barriers delaying infrastructure projects worth almost $300 billion nationwide.
The new government, led by Prime Minister Narendra Modi, has been seeking to step up the pace of reforms to revive the stuttering economy.
It has used executive orders to pass reforms due to a lack of a majority in the upper house of parliament or Rajya Sabha.
Last week, it passed two orders to raise foreign investment in the funds-starved insurance sector and allow commercial mining of coal, bypassing lawmakers.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indian cabinet eases rules on land acquisition Arab Today, arab today indian cabinet eases rules on land acquisition

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indian cabinet eases rules on land acquisition Arab Today, arab today indian cabinet eases rules on land acquisition

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday