The Hindu Business Line : No farming out shares?

Finance Minister P. Chidambaram can finally count on some support from the Left allies. Chidambaram is reportedly against the proposal in the draft rehabilitation policy to give company shares to farmers whose land is to be acquired for industrial projects, SEZs et al. While the reasons for the Finance Minister’s objections are not yet in the public domain, the Left Front Government in West Bengal seems to have taken a similar stand.

In an informal interaction with some media persons in the capital this week, a senior West Bengal Minister showed reluctance to agree to the proposal to give shares to the dispossessed farmers, his argument being that for a listed company, giving out shares would have many implications. “Some of the proposed investors in my State are listed companies. To give out shares to a large number of farmers would involve a large number of issues. I don’t see how this can be done,” was his immediate reaction, though he admitted that no formal discussions had taken place on the proposed policy.

If this becomes the official Left stand, Chidambaram can possibly look forward to an interesting ‘battle’ with his Cabinet colleague, Raghuvansh Prasad Singh, Rural Development Minister, who is piloting the rehabilitation policy.

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