Eminent economist Pranab Bardhan said on Monday that the State Governments need to form a “quasi-judicial” regulatory body for land acquisition.
“Land (acquisition) is a sector where there should be a quasi-judicial body. Land has become such a problem area and there should be a separate land commission,” Bardhan said while speaking to reporters on the sidelines of a workshop on economic growth in the State, organised by the Sampling and Official Statistics unit of the ISI.
Criticising the State Government’s ‘hands-off’ land acquisition policy, the former professor of economics at University of California said that such a policy would only increase transaction cost for industries.
The Trinamool Congress-led Government has already made clear its policy where the Government will not acquire land for industries. Rather, land should be acquired directly.
Industrialisation hit
According to Bardhan, the State Government has failed to bring in large industries in its existing policy. “This Government has failed to bring industries unlike other States. Our State is lagging behind in terms of industrialisation. There should be competition,” he said.
He, however, clarified that the ruling Government was not against industrialisation. “I don’t think they are against industrialisation. But, they need to reconsider their land policy,” he added.
Compensation
According to him, compensation should be handed out in two phases in order to avoid “post-acquisition dissatisfaction” (demanding more compensation for sold-out land). The Government might also explore the option for giving pension to land-losers, he suggested.
Bardhan also expressed concern over the State Government’s reluctance in giving special economic zone (SEZ) status to industries.
“I wonder why the State Government is creating an issue with SEZ. It’s a policy implemented by the Centre,” he said.