India Inc Welcomes Amendment Of Land Acquisition Act

India Inc has welcomed the Narendra Modi government’s decision to amend the Land Acquisition Act, saying that the changes will provide impetus to infrastructure development and housing construction.

Industry body Confederation of Indian Industry (CII) said that it sees the Ordinance on the new Land Acquisition Act as "a serious commitment" to economic reforms. "CII whole heartedly welcomes the fact that the government has incorporated our suggestion to exempt projects in certain important sectors like defence, rural electrification, rural housing and industrial corridors from the mandatory 80 per cent consent from affected families," the chamber said in a press release.

"The Indian industry wholeheartedly welcomes the much needed changes in the Land Acquisition Act. The government has achieved a good balance between interests of farmers and development needs," ASSOCHAM President Rana Kapoor said.

Yesterday, the Union Cabinet had given its nod to an ordinance to amend the Land Acquisition Act. It has made major changes in the Act. One of the changes includes removal of the “consent clause” for acquiring land.