Vicky Nanjappa goes through Karnataka Lokayukta Justice Santosh Hegde's explosive report on illegal mining in the state and reveals damning figures of corruption. A jaw-dropping Rs 12,228 crore worth of iron ore was illegally exported in a a span of four years (2006-2010), says Karnataka Lokayukta Justice Santhosh Hegde in his report released a couple of days back which led to Chief Minister B S Yeddyurappa's exit. According to the report, which...

After sliding a mile backward into a morass, Karnataka'smining sector has just been shoved a metre forward. Since it has taken an almighty effort by the judiciary and a quasi-judicial body, the Lokayukta, to accomplish even this much, what hope is there for a sector that is vital for Karnataka's and India'sindustrial development?? Will the sector - represented by mining firms, traders, transporters, government agencies - slide back deep into...

The report on illegal mining in Karnataka, compiled by Lokayukta Santosh Hegde and his team, may spell the end of the first Bharatiya Janata Party government in south India. While the report is voluminous, here are a few details of what the Lokayukta and his team have found while probing the illegal mining scam. In the report the Lokayukta clearly makes charges against Chief Minister B S Yeddyurappa and Minister for...

July is a month when we need to remind ourselves how reforms have changed India since 1991, from vulnerability to resilience, whether to external shocks (say, oil) or internal ones (droughts). In 2009, we witnessed the worst drought since 1972, yet the agricultural growth rate stayed positive (0.4%), nor did we resort to any major cereal imports. And in 2010-11, we are likely to have a record harvest of 241 million...

As bank gears up for competition, it may further dilute environmental safeguard policies WITH financial institutions of emerging economies like India and China getting big time into development lending, the World Bank plans reforms to attract its borrowing countries. Some of the important plans are to disburse loans faster and on flexible terms. Bank watchers and civil society groups say the reforms, expected to be in force by the year-end, would...