We, the common people, are the real sufferers.
By DoctorDidi
@DoctorDidi (7018)
India
October 8, 2012 11:43am CST
The bone of contention between the Trinamul Congress party (TMC) and the Communist Party of India(CPM) in West Bengal was land acquisition policy of the government and it was the main issue over which the last Assembly election in West Bengal was contested in 2011 and TMC came to power in the state. CPM’s view over the issue of land acquisition is that when land is required on a large scale, it would be acquired by the government and subsequently handed over to the concerned authority in need of that land. TMC, on the contrary, is of opinion that the government should never involve itself in the process of land acquisition; instead the concerned authority would acquire the land directly from the land owners. An industrial company willing to set up a factory in an ideal place may have an alternative to shift the project to any different place which might not be its first choice but may well be a substitute of its first choice. But what’s about in case of widening of a high way? There is no other option than to acquire land on either or both sides of that high way. So, if even the owner of a small piece of adjoining land in a stretch of kilometers after kilometers of that high way declines to hand over the much needed piece of land to the concerned authority in charge of the construction of expansion work, the whole project would be jeopardized by a single person. Isn’t it? What’s the solution under such conditions? Have you anything to suggest?
3 responses
@subhojit10 (7375)
• India
8 Oct 12
Hey thanks a ton for the discussion. i think whatever happens, at the end of the way we the commoners are always the sufferers who feel extremely annoyed for having such politicians in our country who never put national interests before their political interests. The politics have turned so dirty in our country that we are feeling extremely insecure to be under their hands. They are constantly busy in spoiling the image of our country and at the end we are left ruing our luck.
What say?
1 person likes this
@DoctorDidi (7018)
• India
8 Oct 12
You are absolutely right. They are trying to achieve their goal by hook or by crook. They never care for the interests of the common people but always shed crocodile tears for them. They only care how to catch fish in troubled waters.
@vandana7 (98702)
• India
9 Oct 12
Here I am as promised.
I am suggesting securitization of land. I agree industries need land. I also agree that the way things stand in our country, it is often difficult for industries to buy land from right sources. So here is what I would do as government. (Remember I hereinafter refers to government).
I would buy the lands from the farmers. But I would not - I WOULD NOT buy them another land or pay cash. Instead, I would give them a new type of security that is especially created for this purpose. Lets call it Land Exchange Traded Fund or LETF, because the underlying principle is similar.
Now, the value of the land is determined based on the kilometers from the city's center. So even if the revenue records show the land's value as 100000, if it is within the radius of one kilmeter of railway center of the city, it would be worth 10 times that, and this value will go on coming down with each kilometer increase in radius. That is for starters determination of the consideration due to the person, farmer, whoever is losing the land.
Now, this money will be placed in government's security on lines similar to senior citizen deposit instead of handing over to the farmer. This is because many farmers and land owners do not have bank accounts. They also would not know how to manage the sudden cash inflows. They might spend it away recklessly as they are not educated, drink it away, or be robbed. So their interests need to be safeguarded. In lieu of the property being taken away, they will be issued a passbook under which they would be entitled to quarterly interest. As of now the rate of interest applicable on the consideration would be 9 percent per annum. This is NON TAXABLE income in the hand of the farmer. Effectively the farmer gets regular income, not at one go, and is not helpless. In fact, he is more secure as he does not have to face the vagaries of nature and not even work. :) Effectively, he can work elsewhere while getting regular income from this source.
Coming back to the consideration..it should be divided into several smaller units of Rs.100/- each. These should be tradeable in stock markets. Once sold, the income loses its tax free status and becomes similar to any other fixed deposit, except that this one has an additional feature.
Each year, the investment is revised upwards using the Income Tax indexation ratios. The additional value thus added earns additional interest. Effectively inflation is covered. Liquidity is covered because of its tradeability. So the farmer can get monies out for any impending marriage or education without going through regular ways.
Just some thoughts. Hope you like this out of box suggestion. :)
@natliegleb (5175)
• India
8 Oct 12
ideally true,even in my life i have seen that we do suffer a lot eachday compared to the other people out there
@DoctorDidi (7018)
• India
9 Oct 12
All this can be attributed to the dirty politics we all use to play in our daily life, be it in family life or in social life.
