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Kerala cabinet nod for new draft land acquisition

On other decisions of the cabinet, the Chief Minister said Direct Selling Companies would be allowed to function with clear cut conditions.



Thiruvananthapuram: The Kerala government
on Wednesday approved and placed under the public domain a draft
policy for acquiring land for development purposes.

The new concept of issuing Kerala Infrastructure
Transferable Bonds to the value of price of the land acquired
in lieu of cash was the highlight of the policy, Chief
Minister Oommen Chandy told reporters after a cabinet meeting
which approved the policy.

The bonds could be sold at market price of the land at
any time, he said, adding that this will ensure a share in the
development project to the person whose land had been
acquired.

Details of the scheme would be worked out after eliciting
the response of various sections of society, he added.

The policy underlines guidelines for land acquisition for
public development projects like railways, roads, companies
and irrigation projects. A detailed rehabilitation package for
those displaced is also part of the policy.

The Cabinet also approved a draft policy on housing in
the state, Chandy said.

On other decisions of the cabinet, the Chief Minister
said Direct Selling Companies would be allowed to function
with clear cut conditions.

The companies that exploit consumers, indulge in fake
promises and also in the business of `money-chain` would not
be permitted, he said.

The cabinet approved the recommendations of a high-level
official committee that looked into complaints that many
Direct Selling Companies and private financial institutions
were exploiting the public.

PTI

From Zee News

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