Sumit Mazumdar, president of the Confederation of Indian Industry (CII), is of the opinion that the proposed law is not against the farming community in any manner. The bill is a practical solution to the problems faced by industrialists in India when they want to expand their business domain. A new era of reforms is about to be ushered in thanks to the land bill. A failure to get the bill passed is only paving the way to hampering investments in land.
If the land bill sees the light of the day in the format proposed by the NDA regime at the helm of affairs at the Centre, there is going to be more and more rural infrastructure. Avenues for farming are to be increased by virtue of the bill. Farmers are going to be rewarded handsomely if they are to part with their land in consonance with the tenets of the proposed legislation.
CII applauds the exemption of consent for acquisition of land for key projects. The industry body is in favour of the clause that encourages farmers to exchange their land in return for a good compensation. Government and private bodies are going to find it a lot easy to acquire land for development purposes.
Rural infrastructure is going to be promoted by the passage of the bill. More and more industries are going to come up in rural areas. This is going to generate a lot of employment opportunities for those living in rural areas. The Indian economy has come out to be the fastest growing economy in the world. The CII puts a growth rate of 7.8 to 8.2 percent in the current fiscal year.