How Goa's New Land Acquisition Policy Will Transform Its Economy

A state that is on the itinerary of every travel enthusiast for its pristine beaches, scenic beauty, and delightful cuisine, Goa has a flourishing travel industry. But that is not all; the popular tourist destination presents a window of opportunity for other sectors as well. Chief Minister Laxmikant Parsekar recently said: “Fashion shows are important for a tourist destination like Goa, and in the years to come, the coastal state could emulate Paris as a global destination for fashion events.”

Besides its thriving tourism sector, the investment environment in the state has witnessed a sea change in the recent past, with a chain of establishments setting up shops in this backpackers' paradise.

In a move to give a fillip to business infrastructure by hastening the process of building public projects, the state recently notified a new land acquisition policy. Under the new policy, notified under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, land owners in rural Goa are expected to reap huge benefits, for the compensation for land acquired from them would be much higher.

Fresh impetus to the Goan economy

The official state government site reads: Goa is India's smallest state, with the largest heart. Spread over a total area of 3,702 square kilometres, Goa's beaches tend to limit its urban development. There is limited space where authorities can develop infrastructure. Further, there are a total of 383 villages in the state. By developing these areas, the state will be able to connect them to the mainstream, bringing more growth.

Land acquisition in Goa has been a major cause for concern for subsequent governments. And that is a major reason for delayed projects. A state where infrastructure growth is marred by land acquisition issues, industrial growth has also taken a hit simultaneously. A new kid on the realty block, Goa is making efforts to make land acquisition easier. That will give much-needed fillip to the state's business environment. This tiny, mineral-rich state on the western coast of India has the potential of becoming an industrial hub with the right government policies.

Goa is a mecca for tourists. It attracts an eighth of all tourists coming to India every year. While naysayers have found several loopholes in the new policy, it should be kept in mind that the tourism sector is the biggest contributor to Goa's economy. The state should be able to attract more holidaymakers by putting in place a better infrastructure.