National Advisory Council member and former bureaucrat N C Saxena headed the four member panel which recommended that Orissa Mining Corporation (the company that was to supply bauxite ore to Vedanta’s Lanjigarh plant) not be permitted to mine on Niyamgiri hill. ET spoke to Mr Saxena a few hours after the environment ministry accepted his committee’s recommendations. Excerpts from the interview: What are the implications of today’s decision? Some sections of corporate India feel that laws such as...

National Advisory Council member and former bureaucrat N C Saxena headed the four member panel which recommended that Orissa Mining Corporation (the company that was to supply bauxite ore to Vedanta’s Lanjigarh plant) not be permitted to mine on Niyamgiri hill. ET spoke to Mr Saxena a few hours after the environment ministry accepted his committee’s recommendations. Excerpts from the interview: What are the implications of today’s decision? Some sections...

The World Bank has agreed to provide USD 900 million financial aid to Pakistan which has been hit by devastating floods affecting 14 million people and leading to crop loss estimated at USD 1 billion. "The Government of Pakistan has requested around USD 900 million of financial support from the World Bank, which we have committed to provide," the World Bank said in statement. The current floods have claimed over 1700 lives...

One of the most intriguing features of India's agrarian economy in recent years is the persistence of agrarian distress in many regions, even while agricultural credit flow has risen sharply. Rising flow of credit to agriculture is normally associated with buoyancy in the farm sector. A closer look at the data on agricultural credit reveals that what is termed agricultural credit may have very little to do with agriculture, the...

Union Ministry of Environment and Forests is investigating alleged violation of forest laws by Vedanta Co and Korean steel maker Posco in Orissa, the Rajya Sabha was informed on Monday. Replying to supplementaries during Question Hour, Minister for Environment and Forests Jairam Ramesh said a four-member expert group is currently in Orissa looking at all cases of alleged violation by Vedanta Co. An iron ore mining project may comprise both forest and...