New norms to make land acquisition 'onerous': Power Grid
Power Grid Corp, responsible for construction of electricity transmission lines, plans to take significant chunk of projects in the coming months.
Power Grid Corp, the central utility responsible for construction of electricity transmission lines, plans to take significant chunk of projects in the coming months.
"We foresee numerous hurdles and challenges in conducting our daily business. This scenario will only become more onerous in the future in the light of the proposed statutory enactments like Land Acquisition and R&R (Rehabilitation and Resettlement) Act...," the company has said in its 2012-13 annual report.
The much talked about Land Acquisition Bill, which seeks to provide just and fair compensation, among others, was passed by the Lok Sabha on Thursday.
According to Power Grid, land acquisition has become a huge problem in implementation of transmission projects.
"Settling compensation to land owners is matter of concern which delays the land acquisition process."
To deal with the issues, the company has developed its own Environmental and Social Policy & Procedures ( ESPP).
"Under ESPP, in addition to the compensation awarded by the state revenue authorities, additional rehabilitation amount is also considered for payment to the affected families and R&R activities are also implemented in the affected villages," Power Grid said.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.