New Delhi: The new Land Acquisition Act, enacted by Parliament this year, comes into force on Wednesday.
It will replace a 120-year-old legislation.
The historic Act will aim to provide just and fair compensation to farmers. It was passed during the Monsoon Session of Parliament and received President Pranab Mukherjee`s assent on September 27.
The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act" stipulates mandatory consent of at least 70 per cent of affected people for acquiring land for public-private partnership projects, and 80 per cent for acquiring land for private companies.