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for the first time ever, after Singur and Nandigram, farmers of Bengal would not mind parting with their land for industrialisation purposes. The Jindal Group is setting a steel plant in Salboni in West Midnapore district of West Bengal and is offering a unique compensation scheme to the land owners. JSW Bengal Steel will acquire around 450 acres of land for setting up the 10 million tonne steel plant in Bengal. As compensation package, Sajjan Jindal, Vice-Chairman, JSW Steel, is giving the families the total value of land in cash and an equal amount as shares. The landowner’s shares would be held in a trust managed by the district magistrate. Also, a member per family will be offered a job and each family would get a monthly income from annuity scheme managed by LIC.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
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