To keep Nano back, Buddha plan: monthly pension for farmers, land-for-land deal

Pension Scheme

• Each farmer who has given land — at the acquisition rate of Rs 9-12 lakh an acre — will get an extra 10% of the compensation amount as an annual pension for a period of 10-15 years to be finalised after negotiations. For example, if a farmer got Rs 5 lakh as compensation, his pension will be Rs 50,000 each year. The pension will be paid monthly through banks to ensure that the farmer doesn’t fritter it away at one go.

• The scheme will have a Minimum Sum Assured clause so that holders of tiny plots are not stuck with a paltry sum. The minimum will be worked out through discussions. This acquires significance since the land-holding pattern in Singur was highly fragmented, one reason why the Government had to issue cheques to as many as 13,100 beneficiaries. Almost 10,800 accepted the cheques, 2,251 didn’t.

Land for Land

• In case the pension scheme doesn’t break the deadlock, the govt is ready with a “land-for-land” deal. Land acquired for which compensation has been refused by farmers comes to around 220 acres — instead of 400 as is being claimed by Mamata Banerjee — and the government thinks this will go down with many opting for the pension scheme. For those insisting on land, the strategy is to accommodate them in about 15 acres the West Bengal Industrial Development Corporation purchased outside the Tata Motors car plant area having anticipated a sharp hike in land rates.

• In addition, the WBIDC may also use its 47 acres in the plant premises that it has earmarked for “future use.” If more land is required, it might go in for fresh purchase from the open market. This land need not be contiguous so it can be purchased in patches over a scattered area.

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