
The terms of the act are so rigid that the land acquisition for big industries have become a very ardent task and the country was not able to get a single industry after this act came in to force. 326 projects worth 1,40,500 Crores came to a stand still due to the difficulties in collections of Land. So Modi government has decided to amend this act and make the terms flexible.
Finance Minister Arun Jaitley has informed media that government will try for consensus regarding these amendments with opposition parties. But in case they do not budge, Modi’s government will go on to pass the amendments with their own strength in the parliament. Jaitley opines these changes will give in the required push to the industrial development and ushering of the Indian economy in coming days.
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