1. Land Acquisition Bill

• Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 is a legislation that was passed on 29 August 2013 in the Lok Sabha and on 4 September 2013 in Rajya Sabha. The Act has provisions to provide fair compensation to those whose land is taken away, brings transparency to the process of acquisition of land to set up factories or buildings, infrastructural projects and assures rehabilitation of those affected. This legislation has been eagerly sought by both industry and those whose livelihood is dependent on land. The Act will replace the Land Acquisition Act, 1894, a nearly 120 year old law enacted during British rule. The Act establishes regulations for land acquisition as a part of India massive industrialization drive driven by public-private partnership. The Act will be central legislation in India for the rehabilitation and resettlement of families affected by land acquisitions.The Act shall be notified in the year 2014. Compensation is not only for land owners and farmers but also for those whose livelihood will be affected.

2. Highlights of the Land Acquisition Bill

• Payment of compensations that is up to 4 times the market value in rural areas and 2 times the market value in urban areas.
• To address historical injustice the Bill applies retrospectively to cases where no land acquisition award has been made.
• No law can be acquired in Scheduled Areas without the consent of the Gram Sabhas.
• No one shall be dispossessed until and unless all payments are made and alternative sites for the resettlement and rehabilitation have been prepared.
• Compensation to those who are dependent on the land being acquired for their livelihood.
• In cases where PPP projects are involved or acquisition is taking place for private companies, the Bill requires the consent of no less than 70 per cent and 80 per cent respectively (in both cases) of those whose land is sought to be acquired.
• In case land remains unutilized after acquisition, the new Bill empowers states to return the land either to the owner or to the State Land Bank.
• No income tax shall be levied and no stamp duty shall be charged on any amount that accrues to an individual as a result of the provisions of the new law.
• Where acquired land is sold to a third party for a higher price than 40 per cent of the appreciated land value (or profit) will be shared with the original owners.
• In every project those losing land and belonging to the SC or ST will be provided land equivalent to land acquired or two and a one-half acres, whichever is lower.