Is NAC making all future industrialization tough?

The National Advisory Council headed by Sonia Gandhi has made some strong recommendations to change the Land Acquisition Bill. The demands include a much higher compensation to land owners and landless labourers who work on the acquired land. It also wants farmers to profit from the future rise in the price of the land they have sold off.

Flash back: NAC's 'land'mark reform: Pvt sector can't buy land directly

The main points of the NACs recommendations include:

1. Farmers must get 6 times the registered price of the land.

2. They must get 25% of the profit every time the land is sold up to 20 years.

3. Landless labour must be paid about Rs 1000 per month and at that rate for 33 years all upfront.

4. All acquisition uprooting more than 400 families must be by government.

5. Where land is acquired for a public purpose and private sector later develops it - 70% of the affected families must consent

The question remains whether the NAC is making all future industrialization tough? On CNBC-TV18, NC Saxena, member of the NAC and Sanjay Ubale, CEO of Tata Realty discuss two sides of the coin.

Below is a verbatim transcript of the debate on CNBC-TV18. Also watch the accompanying video.

Q: This six times the registered price of the land to be paid to the farmer - the NAC seems to assume that the registered price is always wrong and everybody does pay an excessive amount of black money. I am not able to make sense of the six times.

Ubale: I entirely agree with you. I don