South Korean steel maker Posco may have to start its bid to enter India from scratch, letting six years of preparatory work go to waste. A top tribunal has cancelled environmental approvals given by the government last year for the company’s $12 billion (around Rs61,440 crore today) steel plant in Orissa and ordered that the environment ministry review the entire project afresh. The tribunal said environmental clearances have been accorded in...

The Bengal government is set to grant a never-before concession to developers of township projects, under which government companies will be allowed to hold and lease out land in excess of ceiling without prior permission. However, no activity other than real estate development is being allowed such flexibility despite industry complaining about difficulties involving land. “It seems the (amendment) proposal is highly lopsided. Does the government think only township development would be...

Source: PTI/IANS The World Bank has announced $4.3 billion in financial aid to India through a new innovative and flexible financing arrangement to help the country fight poverty. The arrangement, while facilitating a $4.3 billion increase in support to India, is designed to maintain International Bank for Reconstruction and Development's -- which is its lending arm -- net exposure within the limit of $17.5 billion established by it. In a statement, the World...

For local residents, most Himalayan peaks from Sikkim to Arunachal Pradesh are divine — their might flowing in the form of rivers capable of sustaining life and washing away their ills. One such river is Lohit in Arunachal Pradesh, where Parashuram, an incarnation of Vishnu, was believed to have cleansed himself after beheading his mother. Today, however, the Himalayas seem to be fighting a losing battle against India's hunger for electricity....

-The Telegraph The Mamata Banerjee government’s move to appropriate the financial powers of the zilla parishads in North 24-Parganas, Nadia and Murshidabad has set the stage for battle in next year’s panchayat elections. Senior Trinamul leaders said with the financial powers gone, these three zilla parishads have effectively been wrested from the Left. Panchayat minister Subrata Mukherjee said the move to take away the financial powers was an “administrative necessity” as in the...