Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

India to issue land reform order to get around political deadlock

Published 30/03/2015, 10:39
© Reuters. Farmer uses his oxen to till his land in front of a satellite dish set up in an adjacent field in Narayangaon

NEW DELHI (Reuters) - India will issue a new decree this week for land purchases that has stirred disquiet across the country but which the government says is necessary to build roads, ports and power stations for higher economic growth.

Billions of dollars of infrastructure projects are held up because of the difficulties involved in acquiring land under a law that requires approval of 80 percent of the affected landowners as well as carrying out a social impact assessment study.

Prime Minister Narendra Modi has made amending the law the centrepiece of the reform effort in the first year of his administration.

The rural development ministry is preparing a new ordinance or an executive order to replace an earlier one that expires on April 5, an official in the ministry said on Monday.

It will have the same amendments which were approved by the lower house of parliament, the official said, making it easier to buy land for industrial corridors, rural housing and electrification, and for defence purposes.

© Reuters. Farmer uses his oxen to till his land in front of a satellite dish set up in an adjacent field in Narayangaon

Critics led by the main opposition Congress party say the proposed land reforms are anti-farmer and will rob millions of people of their livelihoods.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.