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Land-Acquisition Rules Eased

Land-Acquisition Rules EasedLand-Acquisition Rules Eased

The Indian government issued an executive order to make it easier for companies to buy land and eventually replace a law that has hindered manufacturing and constrained economic growth, Bloomberg reported. Prime Minister Narendra Modi’s administration yesterday promulgated the ordinance to spur infrastructure development in rural areas. It exempts at least five categories of land acquisition, including for industrial corridors, from rules that require the consent of at least 70 percent of potential sellers. The order will need to be approved in the next session of parliament, which starts in February, if it is to come into force permanently, according to PRS Legislative Research.

Financialtribune.com