Wednesday, September 7, 2011: The state government today approved and
placed under the public domain a draft policy for acquiring land for
development purposes.
The new concept of issuing Kerala Infrastructure Transferable Bonds
to the value of price of the land acquired in lieu of cash was the
highlight of the policy, Chief Minister Oommen Chandy told reporters
after a cabinet meeting which approved the policy.
The bonds could be sold at market price of the land at any time, he
said, adding that this will ensure a share in the development project to
the person whose land had been acquired.
Details of the scheme would be worked out after eliciting the response of various sections of society, he added.
The policy underlines guidelines for land acquisition for public
development projects like railways, roads, companies and irrigation
projects. A detailed rehabilitation package for those displaced is also
part of the policy.
The Cabinet also approved a draft policy on housing in the state, Chandy said.
On other decisions of the cabinet, the Chief Minister said Direct
Selling Companies would be allowed to function with clear cut
conditions.
The companies that exploit consumers, indulge in fake promises and
also in the business of’money-chain’would not be permitted, he said.
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