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The Act changed the norms for acquisition of land for use by private companies or in case of public-private partnerships, including compulsory approval of 80% of the landowners. The Act also introduced changes in the land acquisition process, including a compulsory social-impact study, which need to be conducted before an acquisition is made. [4]
The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (also Land Acquisition Act, 2013 or LARR Act [1] or RFCTLARR Act [2]) is an Act of Indian Parliament that regulates land acquisition and lays down the procedure and rules for granting compensation, rehabilitation and resettlement to the affected persons in India.
Furthermore, there was a great resentment against class banking in India, which had left the poor (the majority population) unbanked. [2] After becoming Prime Minister, Gandhi expressed the intention of nationalising the banks in a paper titled, "Stray thoughts on Bank Nationalisation" in order to alleviate poverty. [ 3 ]
Union Of India, filed by R. C. Cooper, popularly known as the Bank Nationalization case, held that the Constitution guarantees the right to compensation, that is, the equivalent money of the property compulsorily acquired. The Court also held that a law which seeks to acquire or requisition property for public purposes must satisfy the ...
Land acquisition in India is currently governed by the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, which came into force on 1 January 2014. [14] Until 2013, land acquisition in India was governed by Land Acquisition Act of 1894. [15]
The Land Acquisition Act of 1894 is not the only Act surviving from the times of British India. Indian Penal Code of 1860 forms the backbone of criminal law in India. Modern India's laws, like the laws of many economically developed countries such as the United States, are largely based on English common law. [8]
The first Land Development Bank was started at Jhang in Punjab in 1920. However, real progress began when the land development bank was established in Chennai in 1929. [2] Not only that, land banks, land mortgage banks, agriculture banks, agriculture development banks are now called land development banks in modern world.
Builders coerce farmers to sell their land by getting the government to use the Section 4 of the land law to have a government notification issued to the farmer that their land is required for the "public purpose". Builders try to acquire this land by offering a small premium above the government’s rate for the acquisition of the land.