Business Daily from THE HINDU group of publications
Thursday, Jan 25, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Jan 25, 2007 ePaper |
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Opinion
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Letters Land acquisition
In a market economy, exchange of factors of production, products and services should be government-neutral. But state intervention is inevitable when it comes to protecting public and social considerations. Compensation and rehabilitation of those affected by land acquisition should be weighed and determined by an independent body beforehand. Buyers and sellers should negotiate and decide on: Quantum of acquisition and price, compensation by way of equity shares in the acquiring company, andhow the displaced persons get priority in employment and vendor programmes. Rehabilitation can be made an integral part of the project cost. Decision can also be taken on the extent of leased land and quantum of lease rent. Except for the main plant, which is essential for mortgage against loans, etc., the rest of the land could be on lease. At this stage of development, market forces should not be relying on concessions and incentives. It is hoped that the Government will announce a balanced policy on land use soon and act on it effectively. K. U. Mada Mumbai
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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