New Land Acquisition Act comes into force
4Historic Land Acquisition Act has come into force from the first day of New Year. The law provides for just and fair compensation to the farmers and also gaurds against any unjust or forceful aquisition. The new law provides for a compensation equivalent to 4 times of market price in rural areas and twice the market price of the land in Urban Areas. In case of private companies seeking to aquire land, aquisition can only happen if 80 percent of the local population agrees to the proposal. The aquisition will be cancelled if the project for which the land has been aquired fails to take off in five years. However for national security and defence purposes government can aquire land by giving proper compensation to the farmers. The new act also allows states to form their own laws but in no case the compensation rates would be less than what provided by the central law. Also the clause of consent of 80 perecent of local popoulation for land aquisition cannot be diluted.