The $12 billion Posco investment in India was supposed to be the biggest FDI project in the country. After six years that still remains on paper Horangineun jugeumyeon gajugeul namgigo, Sarameun jugeumyun ireumeul namginda (When tigers die, they leave behind leather. When people die, they leave their names behind) —Old Korean Proverb The news flash from Press Trust of India came on July 10, 2011. Posco, the $32 billion South Korean steel giant had decided to...
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Govt faces land consent rule by Basant Kumar Mohanty
The “80 per cent consent” clause in the draft land acquisition bill may be extended to government projects too, rural development ministry sources have said. In its current form, the draft bill makes the consent of 80 per cent of the landowners mandatory only in case of land acquisition for private industry. In case of land acquisition for government projects, the draft merely requires “consultations” and not consent. However, among the several...
More »Present food security bill unacceptable: Karat
-IANS Communist Party of India-Marxist (CPI-M) general secretary Prakash Karat on Sunday said the food security bill in its current form will curtail the food security as it caters to certain sections of society. "This will not be a good food security legislation as they are trying to restrict the food security to certain sections of society. They have already given a quota - 46% of the population in rural areas...
More »High compensation = high property prices by Devesh Chandra Srivastava
Draft Bill on land acquisition pegs compensation on market value but how government agencies will reach this value remains a concern In response to farmers’ agitation in the last few years over faulty land acquisition and poor compensation—the Tata-Singur fiasco in West Bengal, Posco in Orissa or the recent farmers’ agitation in Noida—the ministry of rural development is planning to replace the archaic Land Acquisition Bill, 1894. It has come up...
More »Orissa: 6 lakh trees cut for POSCO? by Jajati Karan
An ecological catastrophe is in the making in Orissa where more than six lakh trees are being cut at the POSCO site in Jagatsinghpur district for the south korean steel plant. The farmers in Orissa are protesting against the felling of six lakh trees at the POSCO site. More then 50,000 have already been cut down and nearly six lakh more trees are to go. The district administration is going ahead...
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