[Compulsory acquisition of property.] Rep. by the Constitution (Forty-fourth Amendment) Act, 1978, s. 6 (w.e.f. 20-6-1979).
Article 24 of the Draft Constitution (Article 31 of the Constitution of India, 1950) was debated on September 10, 1949 and September 12, 1949. This provision was deleted from Part III of the constitution by the Constitution (Forty-fourth Amendment) Act, 1978. A modified version of this provision stands today as Article 300A. Right to property and property rights were discussed in light of – (i) fair and equitable compensation and (ii) the existing zamindari system, (iii) land acquisition, (iv) agrarian reforms, (v) financial reforms and (vi) foreign investment. The Assembly debated on the separation of powers doctrine and the authority which each section of the government – legislature, executive and judiciary in context of property rights. Reasonable restrictions on fundamental rights and principles of non discrimination also played a crucial role in the drafting of this provision.