The Land Acquisition Bill passed by the Indian Government has the following economic implications:

• Increased acquisition costs: The Bill requires the payment of a higher compensation to landowners, which could significantly increase acquisition costs for industrial and infrastructure projects.
• Delayed projects: As a result of higher compensation, it may take longer for projects to obtain land and begin construction.
• Increased transparency: The Bill provides for greater transparency in the acquisition process, with mandatory social and environmental impact assessments, and mandatory consent from affected families.
• Improved infrastructure: The Bill could spur infrastructure development, which would improve transport, power infrastructure and connectivity in rural and underdeveloped areas.
• Increased local employment: Large industrial and infrastructure projects can create jobs and income for local communities, which can improve economic development at the local level.

Overall, the Land Acquisition Bill could have both positive and negative effects on the Indian economy, with the potential to spur infrastructure development and improve local employment on the one hand, while potentially increasing acquisition costs and delaying project implementation on the other.