Chandigarh, May 23
In what could turn out to be a beneficial scheme for farmers, Punjab Chief Minister Parkash Singh Badal today agreed in principle to approve a new land acquisition policy that will make farmers stake holders in the development of commercial, housing and industrial projects.

A decision to this effect was taken at a high-level meeting. A spokesperson said Badal had decided: "Regardless of other considerations, no land will be acquired without the consent of farmers".

A significant clause in the new policy provides for a stake to the farmer in development projects on the land acquired from him. Financial commissioner, revenue, Romilla Dubey has been asked to table the proposal in this regard at the next cabinet meeting for final approval.

The Chief Minister also agreed to the proposal of the secretary, housing and urban development, to entrust the Punjab small industries and export corporation with the task of undertaking land acquisition. The PSIEC had trained staff and infrastructure for the pooling of land, said the spokesperson.

Badal said the farmers whose land was acquired would be given an option of either taking financial compensation or a fixed share in the developed land out of the total chunk of land acquired for any specified purpose.