Skip to main content

Land Bill on the Agenda as Joint House Panel to Meet on May 22


The Modi government's proposed land bill is coming back in the reckoning after being in cold storage for more than a year. The parliamentary joint panel reviewing the legislation will meet on May 22 to debate its social impact assessment, a bone of contention between the government and the Opposition.

"It is very much on the agenda. The goverment has never decided to withdraw the bill despite the fierce criticism against it," said a member of the joint committee on the land bill.

In the UPA-era land law, evry aquisition, regardless of size, would go through a social impact assessment. The assessment was aimed to determine the possible impact and benefits of the acquisition not just on land owners but other people living nearby. The assessment forms the basis for compensation.

After coming to power, the NDA offered exemptions to five types of projects from this social impact assessment and virtually took away the farmer's right of refusal to sell land for government projects.

This will be the second meeting of the land panel, headed now by BJP MP Ganesh Singh, this year Ironically, both meetings happened after the UP elections which the BJP swept and made Yogi Adityanath the CM.
In 2016, only two meetings were held in the entire year in a clear indication that the political leadership was not in a hurry to debate the contentious bill.
The panel has now started seeking comments from states on specific provisions of the social impact assessment.Earlier, many states identified this assessment as the single biggest roadblock to faster acquisition.

The panel has called the Congress-ruled Karnataka government and Delhi Development Authority, controlled by the Centre, to depose on the issue.

The UPA-era law was drastically altered in December 2014, followed by two subsequent ordinances in 2015, But as the Bihar election approached, Modi said in his Mann ki Baat address that the government would not push any more ordinances on the bill.

The UPA's land act was seen by critics as heavily loaded in favour of farmers while the NDA's proposed amendments were touted as pro-big business on which the BJP failed to convince even its own allies and affiliated organisations such as the Bharatiya Kisan Sangh and the Bharatiya Mazdoor sangh.

Hindustan Times New Delhi, 08th May 2017

Comments

Popular posts from this blog

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

  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

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

  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

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

  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