Farmers to Get Compensation in 72 Hours: Yeida
In a significant move for farmers in India, the Yamuna Expressway Industrial Development Authority (Yeida) has announced that it will provide full compensation within 72 hours of land registry and possession. This initiative is designed to alleviate the hardships faced by farmers during the often lengthy and complicated compensation process.
Historically, delays in compensation payments have led to protests and disputes, hindering development projects. By ensuring prompt payments, Yeida aims to expedite land acquisition, particularly around the Noida International Airport area. This faster process is expected to facilitate smoother construction and development work, which is vital for urban and industrial growth.
Yeida's chief executive officer, RK Singh, highlighted the importance of timely compensation, stating that it plays a crucial role in supporting settlement and industrial activities. The authority has been allocated ₹3,000 crore by the government to aid in land acquisition and related infrastructure projects. Additionally, an extra ₹2,000 crore is proposed to further strengthen this initiative.
The authority has already compensated over ₹8,000 crore to approximately 7,000 farmers for 2,400 hectares of land acquired in earlier phases. In the upcoming phase, Yeida plans to acquire more than 1,800 hectares, which will benefit around 14,000 farmers. This commitment to fair compensation reflects Yeida's dedication to fostering a cooperative relationship with the farming community.
Moreover, ongoing acquisitions for various development projects in surrounding sectors demonstrate the authority's proactive approach. With no budget constraints, Yeida is poised to expedite development work in the region, ultimately contributing to the economic growth of Greater Noida and its surroundings.
As Yeida implements these measures, it is not only ensuring faster project execution but also reinforcing its commitment to providing fair compensation for farmers. This holistic approach is expected to create a positive impact on urban and industrial growth along the Yamuna Expressway corridor, benefiting the entire community.
