Rural Development Minister Jairam Ramesh said it was the endeavour of the government to bring it in the current session of Parliament, which concludes on September 7.
"My original position was retrospective. I have changed that view. If economy was growing nine per cent a year, really I may not have changed my view. But current economic circumstances dictate the need for making the land acquisition legislation perceptively more investor friendly," he said.
The Minister said making this change was "very important" in the present circumstances.
Last week, Government had said in Parliament that provisions have been made in the revised Land Acquisition Bill incorporating recommendations of the Parliamentary Standing Committee is to protect the rights of farmers on land and to check the number of displaced families due to land acquisition.
Replying to a question on protests conducted by farmers against land acquisition, Minister of State for Rural Development Sisir Kumar Adhikari said the bill "endeavours to protect multi-cropped irrigated lands from land acquisition, so as not to adversely affect food safety of the country".
The Land Acquisition, Rehabilitation and Resettlement Bill, 2011 was introduced in Parliament in September last year and was referred to a Parliamentary Standing Committee, which submitted its recommendation in May this year.
It is likely to be rechristened as the Right to Compensation, Resettlement, Rehabilitation and Transparency in Land Acquisition Bill.
New Delhi: Seeking to dispel the impression that the Land Acquisition Bill will only be pro-farmer, the Government on Monday said current economic circumstances dictate the need for making it "more investor friendly".
First Published: Monday, August 13, 2012, 23:19