Skip to main content

10 states seek to have their own land laws

By
This could help bypass central legislation and break the land Bill deadlock
Ten big states, most of those ruled by the Bharatiya Janata Party (BJP) and its alliance partners, on Wednesday sought to unshackle themselves from the logjam over amendments to the contentious land acquisition Bill, 2013, by proposing to bring their own laws for boosting infrastructure development.
At a NITI Aayog meeting to discuss the land Bill ( the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement Bill, 2015), which Prime Minister Narendra Modi chaired, several chief ministers stressed that land was needed for development and to create jobs.
The PM told the meeting that politics over the Bill was stalling rural development. He said the government would not compromise the country’s development but will keep farmers’ interest in mind. For this, it would consider all suggestions. Several state governments proposed they could enact their own land laws consistent with the amendments proposed by the Centre in the land acquisition Bill, 2015, rather than waiting indefinitely for a consensus.
“If the Centre fails to approve this ( Bill) with consensus, it should be left to states. Those states that want to develop fast... can suggest their own state legislation and the Centre ( would) approve that state legislation.
An overwhelming section gave such a suggestion,” Finance Minister Arun Jaitley said after the meeting.
He did not identify the specific states but it was evident most of these were those ruled by BJP or its alliance partners. Today’s meeting was attended by 16 chief ministers. The nine Congress CMs boycotted the meeting, while the Uttar Pradesh, West Bengal and Odisha CMs were absent. Tamil Nadu CM J Jayalalithaa, who was indisposed, sent a written text in which she opposed the changes to the 2013 Act. Bihar’s Nitish Kumar, Tripura’s Manik Sarkar and Delhi’s Arvind Kejriwal also opposed the amendments.
Among the states that are ruled by the National Democratic Alliance partners, Parkash Singh Badal, who leads a BJPShiromani Akali Dal government in Punjab, was the sole dissenter on the issue of amending the 2013 Act. Jammu & Kashmir CM Mufti Mohammad Sayeed advised the PM to consult all political parties before amending the existing Act. Telangana, ruled by the Telangana Rashtra Samithi ( not an NDA partner), is understood to have supported the changes, along with Haryana, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, Gujarat, Maharashtra and Goa. Andhra Pradesh CM N Chandrababu Naidu could not attend the meeting but spoke to the PM. He has consistently supported the land Bill.
Chief Ministers of BJP- ruled states argued development had been suffering because of a deadlock over the issue.
Business Standard, New Delhi, 16th July 2015

Comments

Post a Comment

Popular posts from this blog

RBI deputy governor cautions fintech platform lenders on privacy concerns during loan recovery

By
  India's digital lending infrastructure has made the loan sanctioning system online. Yet, loan recovery still needs a “feet on the street” approach, Swaminathan J, deputy governor of the Reserve Bank of India, said at a media event on Tuesday, September 2, according to news agency ANI.According to the ANI report, the deputy governor flagged that fintech operators in the digital lending segment are giving out loans to customers with poor credit profiles and later using aggressive recovery tactics.“While loan sanctioning and disbursement have become increasingly digital, effective collection and recovery still require a 'feet on the street' and empathetic approach. Many fintech platforms operate on a business model that involves extending small-value loans to customers often with poor credit profiles,” Swaminathan J said.   Fintech platforms' business models The central bank deputy governor highlighted that many fintech platforms' business models involve providing sm
Post a Comment
Read more

Credit card spending growth declines on RBI gaze, stress build-up

By
  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the rep
Post a Comment
Read more

India can't rely on wealthy to drive growth: Ex-RBI Dy Guv Viral Acharya

By
  India can’t rely on wealthy individuals to drive growth and expect the overall economy to improve, Viral Acharya, former deputy governor of the Reserve Bank of India (RBI) said on Monday.Acharya, who is the C V Starr Professor of Economics in the Department of Finance at New York University’s Stern School of Business (NYU-Stern), said after the Covid-19 pandemic, rural consumption and investments have weakened.We can’t be pumping our growth through the rich and expect that the economy as a whole will do better,” he said while speaking at an event organised by Elara Capital here.f there has to be a trickle-down, it should have actually happened by now,” Acharya said, adding that when the rich keep getting wealthier and wealthier, they have a savings problem.   “The bank account keeps getting bigger, hence they look for financial assets to invest in. India is closed, so our money can't go outside India that easily. So, it has to chase the limited financial assets in the country and
Post a Comment
Read more