What is it about?
Market mechanism is sufficient argument of distributive justice for land acquisition for development activities, but it ignores income security. Landowners are heterogeneous in terms of knowledge, skills, risk preferences, attitudes and perception of future development benefits.
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Why is it important?
The role of complementarities of land with farming skills are non-transferable that incorporate their concern for financial security and time preference. These concerns exhibited considerable diversity with corresponding preferences over alternative forms of non-cash compensation.
Perspectives
Need to redefine the compensation mechanism; otherwise, economic development becomes unsustainable depriving land-losers. India has taken initiative to formulate new land policy and related law which focuses on land acquisition, rehabilitation and resettlement bill. Land policy should be clear about the process of land acquiring and compensation. This article focuses on compensation issues, principles of policy formation and also suggests different type of compensation for sustainable development.
Dr Soumyananda Dinda
University of Burdwan
Read the Original
This page is a summary of: Land Acquisition and Compensation Policy for Development Activity, Journal of Land and Rural Studies, January 2016, SAGE Publications,
DOI: 10.1177/2321024915616688.
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