The Government on Wednesday got a major victory as its long-pending land acquisition Bill was passed by the Rajya Sabha by an overwhelming support, while the lok Sabha approved the Pension Bill.
After five-hour long debate, the Right to Fair Compensation and Transparency in the land Acquisition, Rehabilitation and Resettlement Bill, 2013 was passed by the Upper House by 131 votes in favour, while ten votes were cast against it.
All major political parties, except Trinamool Congress, favoured the Bill which aims to provide land owners a compensation that is 4-times the market rate in rural areas and 2-times in urban areas. It also has provisions for compensation and rehabilitation and resettlement of those depending on the acquired land for livelihood.
Rural Development Minister Jairam Ramesh moved four official amendments on suggestion of BJP leaders to ensure that the irrigation projects are not adversely impacted by the legislation. But other amendments brought by Opposition parties were rejected by the House.
The Bill has already been passed in the lok Sabha, but now the amended Bill will once again be sent there for passage and after Presidential assent it will come into force.
Participating in the debate, most MPs supported the Bill as it would provide adequate compensation to farmers whose land under the existing Act of 1894 was being acquired at cheap rate. Under the new legislation, prior consent of 80 per cent land owners are required for private projects and 70 per cent owners in case of PPP projects. But there is an apprehension among a section of people that the legislation would adversely impact the industrial growth as land acquisition will become complex.
Meanwhile, the Pension Fund Regulatory and Development Authority (PFRDA) Bill passed in the lok Sabha will lead to setting up of a regulator for the pension sector and extend the coverage of pension benefits to more people.