Notes on Inequality #29.
From Land Value to Shared Value and Shared Prosperity – Towards Social Justice.
Land acquisition is often necessary for industrial development. But when farmers give up their land, is compensation alone enough?
But, land acquisition, if not accompanied by long-term livelihood and financial security, can widen inequality and even deepen poverty, as a lump-sum payment may not always translate into sustainable income or wealth.
India already has provisions for rehabilitation, livelihood support, employment, skill development and housing. Perhaps the next step is to think beyond compensation – to participation.
Where feasible, farmers could receive a share in the enterprise so they can benefit from dividends and future value creation.
Where equity participation is not feasible, affected landowners could be offered regulated long-term securities or an immediate annuity/pension option, converting a portion of the compensation into a dependable stream of future income.
A secure home and a transparent, corruption-free process should complete the framework.
Development should not create a new divide between those who own the future and those who surrendered their past.
Land acquisition should not turn a farmer’s productive asset into a one-time payment and an uncertain future.
The question is not only, “How much compensation?” but, “What kind of future do the farmers receive?”
#LandAcquisition #SharedProsperity #PublicPolicy #Notes
