The Lok Sabha will today take up the Land Acquisition Bill.
Union Rural Development Minister Jairam Ramesh will move this bill, which is another landmark legislation of the Congress-led UPA Government.
The bill aims at making affected persons partners in development, leading to an improvement in their post- acquisition social and economic status.
The bill seeks to provide just and fair compensation to families whose land has been acquired for industrial purposes. The bill proposes payment of compensation up to four times the market value in rural areas and two times the market value in urban areas.
The bill - "The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2012" will replace over a century-old Land Acquisition Act, 1894.
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