The new land acquisition Bill is likely to replace a serious political problem with a serious economic one. The centre’s continuing desire to set prices is redolent of an anachronistic paternalism. Any centralised price-setting process is likely to be problematic.

Land is a state subject in the constitution for the good reason that India has a variety of land distribution and market systems. This diversity has increased in the six decades after the constitution was written, as has the regionalization of Indian politics....Read More