The Telegraph
Since 1st March, 1999
Email This Page
State mulls ‘future price’
- Amartya’s land compensation formula on the table
Nirupam and Amartya: On common ground

Calcutta, Sept. 25: The Bengal government is toying with an idea floated by Amartya Sen: factoring in the prospective price of a plot while paying compensation for land acquired for industry.

The state has so far paid the market price or the average land price prevalent for six months in the area.

The compensation did not take into account what the price of the land could be after the area’s industrialisation.

“Everyone has talked about a future price. We have to do something about it,” commerce and industries secretary Sabyasachi Sen said today.

He was speaking after a session at a city hotel where industries minister Nirupam Sen interacted with analysts and industrialists on the road ahead.

Nobel laureate economist Amartya Sen had told The Telegraph in an interview that the government had made a tactical mistake by not taking into account what the value of the Singur land would have been had it been freely available to all industries and not reserved for Tata Motors.

Nirupam Sen indicated it would not be easy to determine the “future price”.

“Do we take the price after 3 years or 5 years or 10' Where do we stop'” he asked.

He said involving all the people affected by an industrial unit in its activities will be the cornerstone of the rehabilitation policy being mulled by the government.

“We’ll carry out a detailed socio-economic survey in areas where projects are going come up to decide what the compensation and rehabilitation package should be,” Sen said.

He pointed out that there would be different models for projects depending on the nature of industries.

The state is drawing up a map showing industries suitable for particular places. Greater Calcutta, Kalyani, Durgapur, Asansol, Bankura, Purulia, Kharagpur, Jhargram, Haldia, Siliguri and Jalpaiguri will house big industries.

Nirupam urged Delhi to release 200 acres locked up in jute mills. “We are ready to pay the reserve price fixed by the Centre,” he said.

Email This Page