1. What is the JSW Land Deal?
The deal was originally proposed in 1996, by then Deve Gowda-led government.
The deal came to life in 2006, when JD(S)-BJP coalition government approved it and it was signed by the then deputy chief minister and industries minister BS Yeddyurappa, the current BJP state president.
The first deal in 2006 provided JSW 2,000 acres in two villages in Ballari for a lease period of six years. Subsequently, in 2007, 1,666 acres in three more villages were brought under the deal for a lease period of 10 years. As per the agreement, at the end of the lease period this land would be sold to the company.
The Karnataka cabinet had recently decided to convert the lease of 3,667 acres to JSW Steel at Ballari into sale, in accordance with the initial agreement, as it was overdue. The company was asked to pay Rs 18 crore ie 2,000 acres at the rate of Rs 1.22 lakh per acre and the rest of 1,666 acres at Rs 1.5 lakh per acre.