Economics of land acquisition

Maddu Sriman Narayana
4th Semester Student of BBA, LL.B, O.P. Jindal Global University


Abstract

Our nation had experienced a high level of land acquisition in the name of public purpose It is right to say that the country had developed highways, dams, mines, industries, airports, irrigation projects and several other areas of infrastructure. We generated lot of employment opportunities, infrastructural improvement, public resources and growth in the production and economy. The concept of eminent domain was arisen in many countries like Australia and U.S.A. for the public purpose with the idea that the state has an authority to acquire the lands forcefully from others to improve social benefits. However, such progress had taken place at the cost of millions of people. The land acquisition policies and government attitude to the victims of this process are not considerate enough to justify such development. Many issues have arisen on unfair compensation provided to land owners. This development without providing adequate justice to losers of land will not lead to Pareto improvement. This paper analyses the effects of land acquisition and shows that there is a substantial imbalance between social and economic development due to this policy. In addition, it provides remedies and other alternatives for this policy to achieve Pareto improvement.

Keywords: Law and Economics, Land Acquisition in India, Public Purpose, Pareto improvement

Preferred Citation

Maddu Sriman Narayana, Economics and land acquisition, The Lex-Warrier: Online Law Journal (2018) 3, pp. 114 – 119, ISSN (O): 2319-8338

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