The state legislature on Monday passed an amendment to the MID Act, 1961 moved by the industries department.
In a bid to boost industrial growth, acquisition of land for industrial purpose across the state soon will be exempted from the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (LARR), Act 2013. Instead, the land acquisition for industry purpose will be done as per the provisions of the Maharashtra Industrial Development (MID) Act, 1961. Henceforth, provisions of LARR Act 2013 will be applicable only for finalising payment of compensation and rehabilitation to the landowner.
The state legislature on Monday passed an amendment to the MID Act, 1961 moved by the industries department. This is necessitated as the state government has already amended LARA (Maharashtra Amendment) in 2018 for the determination of compensation and rehabilitation and resettlement under the LARA Act 2013. As per the amendment to the LARA Act, 2013, the land acquired for public and private purposes in rural areas gets four times the market rate.
Speaking to DNA state industries minister Subhash Desai said, "Following the amendment, land acquisition for industrial purpose will be faster." He informed that the Maharashtra Industrial Development Corporation, which is a nodal agency to promote industrial development, has a land bank of 1 lakh hectare and the acquisition of another 20,000 hectares is underway in Nashik, Pune, Ahmednagar, Aurangabad, Raigad, Ratnagiri, Satara, Amravati, Nagpur, and Thane.
He noted that following the amandement, land acquisition will be hassle-free and the amount of compensation would vary in accordance with the project undertaken.
A state industries department officer said the amendment is also crucial when the New Industrial Policy, released in February this year, is focussed on industrial growth and development of the backward regions of Vidarbha and Marathwada. It also introduced a special component for the development of Maoist and tribal belts of Nandurbar, Washim, and Gadchiroli under the industrial cluster development project.
The policy has also given emphasis on promotion of micro, small and medium enterprises and eligible new units in north Maharashtra, Vidarbha, Marathwada, Raigad, Ratnagiri and Sindhudurg in Konkan which will get power tariff subsidy of Re 1 per unit consumed and up to to 100% exemption in stamp duty. Almost 20% area would be reserved for MSMEs in new MIDC estates.
Exempted
- State to be exempted from LARR Act 2013 for land acquisition for industry purpose.
- The Act will now be applicable for compensation and rehabilitation
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