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

Govt’s gamble on GST cuts: What do the bond and currency markets signal?

  It’s not just humans who suffer from cognitive biases; markets do too. Interestingly, different financial markets exhibit distinct biases, each interpreting events through its own prism of prejudice. Take the recent announcements on GST reforms: equity markets have chosen to view them through the lens of growth, while bond and currency markets are focusing on potential macroeconomic risks—fiscal pressures and current account challenges. So, which lens captures the true pulse?Equity markets may be right in expecting GST reforms to revive consumption, which has remained lacklustre for a while. But the key question remains—will this revival come at the cost of broader macro stability?It is well known that consumption stocks have rallied since the GST rationalisation announcement. But what about bond markets? What signals are they sending since this rejig was announced from the ramparts of the Red Fort?The signs aren't encouraging. Bond prices have slumped and yields have surged sinc...

Luxury carmakers urge clarity on GST rates to boost festive season sales

  A clear picture regarding new GST rates at the earliest will help the overall auto industry, including the luxury car segment, to regain momentum in the ongoing quarter, which generally sees enhanced sales on account of the festive season.The high-powered GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on September 3-4 to discuss moving to a two-slab taxation.In an interaction with PTI, BMW Group India President and CEO Hardeep Singh Brar said the recent speculation about the change in GST rates has caused uncertainty in the minds of consumers.Consumer interest and demand is strong, but they (prospective buyers) have adopted a wait-and-watch approach, and this delayed decision-making is impacting new vehicle sales at a certain level, he noted."Expediting clarity on GST rates is essential to get back to speed and ensure the auto sector's contribution to economic growth during this quarter is robust," Brar stated.He also hoped that the sustainable p...

Sebi proposes tighter norms for green bond third-party reviewers

  Sebi on Friday said it has proposed to tighten the norms to appoint independent third-party reviewers or certifiers for green debt securities to align them with requirements for other ESG-linked bonds.In a draft circular, Sebi said that the current norms for green bonds, introduced in February 2023, lack detailed requirements around reviewer independence, conflict of interest mitigation, and disclosure standards that are now in place for other ESG-linked securities under a June 2025 circular.The regulator's latest proposal seeks public comments on a revised framework that would bring parity by incorporating comprehensive criteria for third-party certifiers of green bonds on non-convertible securities.Under the proposed norms, issuers of green debt securities will need to appoint reviewers who are independent of their management, directors, and key managerial personnel. These reviewers will be remunerated in a way that prevents any conflicts of interest and possess relevant expert...