The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill 2013, received assent of the President of India on 27 September 2013. The bill has now become law.
The Bill was passed in the 2013 Monsoon Session of Parliament. (The Lok Sabha passed the bill on 29 August 2013 and Rajya Sabha passed the bill on 4 September 2013).
Under the new Land Acquisition law, farmers and landowners are entitled to get compensation of up to four times of the market value for land acquired in rural areas, and two times the market value in urban areas.
The consent of 80 per cent of land owners is mandatory for acquiring land for private projects and of 70 per cent landowners for public-private projects. The law also brings transparency in the process of land acquisition and lays down measures for rehabilitation of those displaced.
Aim of the Land Acquisition, Rehabilitation and Resettlement Bill, 2013
The aim of the bill is providing fair compensation to people whose land has been taken away for setting up the buildings or factories. The aim of the bill is to bring in more transparency to the process of land acquisition, thereby bringing assurance of rehabilitation to the affected people.
The new land acquisition law, replacing a 119-year-old legislation, will be notified in the next two months, rural development minister Jairam Ramesh said on 29 September, 2013.