A lopsided pro-farmer land acquisition policy has been drafted in consultation with a section of state governÂments and a study of the disÂpÂute raised by farmers “to ensure that exploitation of farmers stops”, said Rural Development Minister Vilasrao Deshmukh.
Under the drafted policy, the role of the state goveÂrnment in the land acquisition process will be minimal: 70 per cent of the land would be acquired by the entrepreneur through neÂgotiÂations with farÂmers, while the state goveÂrnment will help with the rest. Compensation will be at the market rate and the entreÂpreneur will have to pay 60 per cent of the market value as bonus, annuity for 30 years, 80 per cent of the profit earned by the entrepreneur after comÂmercial exploitation of land and job for one member of the family.
If there is a tranÂsaction on revenue land, then the original owner of the struÂcture on the land has to pay 50 per cent of the transaction vaÂlue towards unearned income. The new policy envisages that if the acquired land is not utilised within five years, then it will be returned.
Deshmukh said the bill woÂuld be introduced in the monÂsoon session of the Parliament this year.