“The West Bengal cabinet, in a recent meeting discussed that the control over the conversion of agricultural land into other purposes, should remain in the hands of the government’s top level, to avoid interference R
Government's decision to allow the Land Acquisition Ordinance to lapse and return to the previous Act is a "setback to economic reforms", industry body Assocham said.
The NDA version of the Land Act had sought to exempt five types of projects from these clauses, but lack of support in the Rajya Sabha means any version of the bill passed now will be closer to the UPA‘s original bill passed in 2013 than something more growth-friendly or radical.
In an interview with CNBC-TV18's Rituparna Bhuyan, Rajesh Shah, former CII president and co-author of the book Resurgent India, discussed the Land Act and also shared his views on the exchange rate and Indian exports.
Meghnad Desai said India can achieve 8.5 percent growth over next the few years only if the government brings in more reforms in ease of doing business and create better skilled workforce. "I think the Modi regime are quite moderate while going for incremental reforms.
The government feels that it needs more time to get the Opposition on board, on its proposal to simplify land acquisition rules for PPP projects.
Speaking to CNBC-TV18, Terdal said the company won't be immediately impacted by positive reforms but government's PPP initiatives will help stranded road and power projects. The company's joint venture with Philippines Airport will start making profits from this year and will add around Rs 110 crore in revenue.