The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2012 aims to replace a law enacted by the British in 1894.
Rural Development Minister Jairam Ramesh moved the bill, which was passed in the Lok Sabha last week.
The amended bill will again to Lok Sabha for consideration of changes approved by the upper house.
Most parties supported the bill but gave their suggestions to make it more farmer-friendly.
Bharatiya Janata Party Rajya Sabha member Vinay Katiyar, who initiated the debate, said acquired land, if not used for more than five years, should go back to farmers and not to land bank.
He suggested fast track courts for speedy disposal of disputes related to land acquisition.
Communist Party of India-Marxist member Sitaram Yechury said that farmers should be entitled to a share in the enhanced value of land after its acquisition.
The Bahujan Samaj Party and the Samajwadi Party said the bill had been brought with an eye on upcoming elections.
--IANS (Posted on 05-09-2013)