4 min read.Updated: 09 Sep 2013, 06:09 PM ISTVarad Pande
Contrary to misgivings, the new land acquisition law will simplify many problems businesses currently face
Much has been said and written about the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill that was cleared almost unanimously by both Houses of Parliament last week. It has been argued by some that the new law will hurt industrialization and economic development by making land acquisition slower and more expensive. But a contrary argument, that the new law could, in fact, reduce uncertainty, streamline the process, lower acquisition costs, and create a win-win model of land acquisition, is equally, if not more, plausible.