New Delhi: Parliamentary Affairs Minister Kamal Nath on Thursday said the Land Acquisition Bill will help farmers get appropriate compensation.
"It is not a question of (it being) corporate friendly. The farmers in India and the landowners in India are not too subsidised industry. For the last 100 years, there has been inequity with the farmers. All this bill says is that when there is acquisition of land, not private purchase," said Nath, when asked about the Land Acquisition Bill not being corporate friendly.
"When there is acquisition of land by the government to give to industry, the farmers will get a fair price. And, I have personally agitated against this in my political life that the farmers do not get a fair price," he added.
Nath further emphasised that the whole perception and conception that the Food Security Bill is going to lay a huge burden on the government is wrong.
The bill seeks to provide just and fair compensation to families whose land has been acquired for industrial purposes. The bill proposes payment of compensation up to four times the market value in rural areas and two times the market value in urban areas.
The bill - "The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2012" will replace over a century-old Land Acquisition Act, 1894.