The government is planning a complete overhaul of the way the power sector is financed and subsidies are delivered, attempting to address a funding shortfall delaying the construction of electricity projects and worsening a chronic power deficit that threatens to sap growth in India’s energy-hungry economy.This exercise is based on a report submitted by a panel headed by Montek Singh Ahluwalia, deputy chairman of the Planning Commission, to the power...

Faced with a massive public outcry and fierce opposition from tribals, the government has, in a landmark move, decided to give tribals and other affected populations a share of the profits made from exploiting mineral resources from their land. The Group of Ministers (GoM) headed by finance minister Pranab Mukherjee on Friday finalised the contours of the draft for a new mining bill, which makes it mandatory for mining companies to...

Despite objections from the coal ministry and concerns of the Planning Commission, a GoM under finance minister Pranab Mukherjee - discussing the new Mines and Mineral (regulation and development) Act 2010 - approved the proposal of sharing 26% net annual profits from the mining activity with displaced locals. The Bill replacing a 53-year-old law can be introduced in the ongoing session, minister for mines BK Handique said after the GoM meet...

Food Ministry asked how it proposed to reform PDS to plug leakages “Present procurement of foodgrains is between 50 and 55 million tonnes” In the first meeting on Friday of the experts group set up by Prime Minister Manmohan Singh to examine the recommendations of the National Advisory Council (NAC) on the proposed National Food Security Bill, senior officials were asked to come up with firm calculations. Chairman of the Prime Minister's Economic...

The Radia tapes reveal the networks and routers, the source codes and malware that bind the corporate and political establishments in India. As squeamish schoolchildren know only too well, dissection is a messy business. Some instinctively turn away, others become nauseous or scared. Not everyone can stomach first hand the inner workings of an organic system. Ten days ago, a scalpel — in the form of a set of 104 intercepted...