India Inc hopes CCI works, land Bill clears House

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SummaryWith the Cabinet on Thursday clearing the proposal for constituting a Cabinet Committee on Investment to fast-track large infrastructure projects along with the Land Acquisition Bill, India Inc is hopeful that the government would give the required push to make the first work effectively and ensure that the second doesn’t face roadblocks in Parliament.

watered down much. With the PM pushing this, no ministry can delay things beyond a point. It will eventually help speed up things,” he told FE. However, Srinivasan did not exude the same optimism regarding the Land Bill. "It would make things a little difficult for large projects like auto and power plants as in India land holdings are already very fragmented. The government is doing a balancing act from a social equity point of view,” he said.

Adi Godrej, chairman of the Godrej Group, said the key lies in execution. “It’s a very good move. Many investment projects are now held up in different ministries. This move will accelerate the approvals of investments projects. If it is executed well, I think it will be very good for the country.”

TV Mohandas Pai, chairman, Aarin Capital Partners, welcomed the move to set up the CCI but had strong reservations on the Land Bill. “The CCI is good and I hope it works and escalates the clearances process. As for the Land Bill, it is neither good for the farmers nor industry because it will create a new kind of land mafia and intermediaries will emerge who will become land consolidators. The most important thing is to empower farmers by giving title to land and that itself is unclear. The government has to ensure a fair process and a higher compensation to farmers. Moreover, who will ensure the 80% approval?”

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