New Delhi: Facing all-round criticism for the farmers’ agitation over land acquisition and compensation in Greater Noida, the Central government is likely to announce a national policy on land acquisition soon.

In a bid to expedite the process, the Centre has decided to convene a meeting of Ashok Chawla Committee – constituted to formulate a national policy on allocation of natural resource - on Wednesday.

The focus of the meeting would be to brainstorm on formulation of an appropriate policy of land acquisition for industrial and infrastructure development projects and devising a mechanism to calculate adequate compensation to the land owners.

The committee may consider the Haryana model of compensation which offers market rate to the land owners if their land is appropriated by the government for any development project. Moreover, the entire amount is not paid once. The farmers get an annual royalty apart from guarantee of job. 

The Haryana model found many takers in previous meetings of the committee. It has also been supported by the Planning Commission and PM’s Economic Advisory Council in past.

Government wants the committee to submit its report by the end of this month as the Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee has to take a final call on amending the Land Acquisition Act on the basis of its report.

According to sources, the Committee has already decided on recommendations for allocation of major resources like oil, gas and minerals. The only issue left undecided is land acquisition.