Maharashtra Minister Proposes Direct Land Purchase Policy for Industries
NAGPUR: In an effort to simplify the land acquisition process for industries, Maharashtra’s Minister of State for Finance, Planning, Agriculture, Labour, Relief, and Rehabilitation, Ashish Jaiswal, has proposed a draft initiative allowing direct land purchases, bypassing the Land Acquisition Act that mandates a fourfold payment rate. Jaiswal’s proposal aims to grant full land ownership to industries, as opposed to the current system which allows for only leased land. Currently, the Maharashtra Industries Development Corporation (MIDC) facilitates land acquisitions for industries. Upon paying the fourfold price, industries can only lease the land, explained Jaiswal. According to the draft proposal, companies looking…