The original bill ensures the following -
>> Any large project would take four to five years to acquire land
>> This land would be expensive and hence make the projects unviable or unattractive for private investment
>> Middlemen would become unavoidable as any large acquisition needing 70-80 percent consent requires hidden persuasion, including bribes and strong-arm tactics.
To keep costs manageable, infrastructure builders would need to manipulate the accepted “market price” through bribery and corruption, because they are officially required to pay four times the “market price” in non-urban areas. The UPA’s bill was thus an open invitation to corruption and wheeling dealing in land acquisitions.
The illogic behind UPA's bill is that it makes no sense to demand a high level of consent when the purpose of paying two times market price in urban areas and four times in rural areas was precisely to over-compensate the unwilling sellers.
Accepting a super-diluted land law will be of no use in reviving industry or prising more unviable farmland away from those who cannot invest in it. So, it would be saner for the Modi government to simply withdraw the bill and try again next year when the atmospherics are better and the government's strength in the Rajya Sabha much improved. Trying to pass a hugely compromised bill that does no good will hardly be worth the loss of political capital and economic logic in making the effort.
The NDA should use the opportunity provided by defeat on the land bill to not just lick its wounds, but to rethink the bill from first principles. The UPA bill was guided by one reasonable motive and several petty political calculations, including the enrichment of its rural landlord base and winning the 2014 elections.
Every setback is an opportunity to think creatively. The Modi government should go back to the drawing board on the land bill and come up with a winner in 2016.
As for
@Guynextdoor2 and other congress supports - at least for a while
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