Mumbai: Expressing concern over the new Land Acquisition Bill, Maharashtra Chief Minister Prithviraj Chavan said here on Friday that it might push up land acquisition costs.
"The new Land Acquisition Bill worries us as the cost will go up. We need to see how this Bill impacts domestic projects in state," Chavan told reporters here at a FICCI National Executive Committee meeting here today.
He said that land acquisition is a major hurdle for the state to implement projects at the ground level.
"Land acquisition is a major hurdle. Under our land acquisition model, we plan to give 22.5 percent developed land to holders or owners, as against the 12.5 percent earlier, instead of hard cash, in an area with potential of price appreciation," he said.
Chavan also said that the Maharashtra government is considering a stimulus package to the industry in order to survive the current economic slowdown, policy change and depreciating rupee.
"We are in the process of considering a stimulus package for the industry so that they survive the current economic slowdown, policy change and depreciating rupee," he said.
He said that he would take a delegation to New Delhi about it, adding that there is a need to regulate the transport sector to resolve road toll and airport fees issues among others.
"There is a need for a regulatory mechanism to settle the dispute for the transport sector that will help resolve issues like road toll, airport fees," he said.
The Maharashtra government could opt to give the Mumbai Trans-Harbour Link (MTHL) project to take the engineering, procurement, construction (EPC) or the annuity route, he said.