Industry body CII said it views the Cabinet's approval to the Ordinance on the new Land Acquisition Act as "a serious commitment" to economic reforms.
"CII whole heartedly welcomes the fact that the government has incorporated our suggestion to exempt projects in certain important sectors like defence, rural electrification, rural housing and industrial corridors from the mandatory 80 percent consent from affected families," the chamber said in a release.

"The Indian industry wholeheartedly welcomes the much needed changes in the Land Acquisition Act. The government has achieved a good balance between interests of farmers and development needs," Assocham President Rana Kapoor said.

Government on Monday recommended promulgation of an ordinance making significant changes in the Land Acquisition Act including removal of consent clause for acquiring land for five areas of industrial corridors, PPP projects, rural infrastructure, affordable housing and defence.

Latest News  from Business News Desk