Mining companies will have to start paying compensation to project-affected people right from the day a mining block is allocated to them and not when they start generating profits, a proposal that will further sweeten the deal for those who lose their land to industrialisation, but stoke more protest from miners. Once the project starts making profits, the displaced families will be provided an annuity income from the net income, but...

The Andhra Pradesh Microfinance Institutions (Regulation of Money Lending) Ordinance, 2010, suggests there’s more politics than understanding of economics that went into it. The setting up of district registering authority under the ordinance, with elaborate powers to even cancel licences, will increase risks of operations posing serious hazard to business plans and will jeopardise the whole MFI network. Especially stifling is the requirement that MFIs have to submit a monthly...

To celebrate the 5th anniversary of the Right to Information (RTI) Act, 2005, the Ahmedabad-based Mahiti Adhikar Gujarat Pahel (MAGP) has announced its plans to pioneer an effort to protect RTI applicants against any perceived or real threat. The MAGP helplines: +919924085000 and 07926821553 (fax) will now take details of the applications, nature of threats, and addresses from such applicants and forward them, along with a complaint, to the concerned police...

Finance minsiter Pranab Mukherjee has favoured a balanced approach on the issue of displacement of tribals due to mining projects, saying that solution does not lie in stopping these projects altogether. “Answer does not lie in the companies stopping mining activities. Answer lies in providing alternatives to those displaced... in what form we can compensate them and make them beneficiary of economic development,” Mr Mukherjee said at a coal summit on...

The central government has given over Rs.217 crore to five public sector units (PSUs) for construction of rural roads in Bihar under the Pradhan Mantri Gram Sadak Yojana (PMGSY), the rural development ministry said Thursday. The state-run firms, which have been given these funds include the National Projects Construction Corporation Ltd (Rs.60 crore), the IRCON International Ltd (Rs.4.19 crore) and the Central Public Works Department (Rs.46.80 crore). The other two PSUs involved...