Abstract
Development projects often entail displacement of people. In India there have been large protests against industrial projects involving both domestic and foreign capital. POSCO of South Korea plans to invest in a steel plant in Orissa, the second poorest state in India. There had been strong protests against the project. POSCO has been unable to acquire land so far. We argue that considering the opportunity cost of resources the project proposes to use and the tax revenue earnings and employment generation from the project, it is pertinent that the project comes up. However, the compensation to the potential displaced persons is plausibly inadequate and both POSCO and government must try and see that the livelihood of people is not adversely affected.
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