The policy deep-freeze and land acquisition woes have resulted in over 500 projects, mostly power and steel, being shelved or put on hold during 2011-12, entailing a total investment of over Rs 5,00,000 crore. According to CMIE estimates, during the year Rs 1,70,000 crore worth of investment projects had been abandoned by project Developers, and another Rs 3,30,000 crore worth were stalled on account of various procedural issues. The core sectors, led...

On February 9, 2010, the then Minister of Environment and Forests, Government of India, Jairam Ramesh, imposed an indefinite moratorium on the introduction of Bt Brinjal in India. It is necessary and desirable to quote the order verbatim. It reads as follows: It is my duty to adopt a cautious, precautionary based approach and impose a moratorium on the release of Bt Brinjals till such time independent scientific studies establish, to...

The government has removed from a proposed bill a clause that would have made builders liable to be jailed for making false promises about houses to customers, housing ministry sources have said. The initial draft of the Real Estate (Regulation and Development) Bill, which is awaiting cabinet clearance, provided for a jail term of up to three years as well as a compensation of up to 10 per cent of the...

NEW DELHI: It could be a second innings for special economic zones, especially those held up for years, with the commerce department proposing fresh tax concessions and a cut in the minimum area requirement to a quarter of the present specifications. The department has suggested that any zone that is not built around the identified 40 million-plus cities and state capitals would be eligible for duty benefits on capital investment for...

The National Green Tribunal's decision to suspend the environmental clearance given to Posco vindicates the project's critics. ON March 30, the Principal Bench of the newly formed National Green Tribunal (NGT) delivered a momentous decision suspending the environmental clearance (EC) given to the South Korean transnational corporation, Posco, to set up an integrated steel plant at Paradip in Odisha's Jagatsinghpur district. The former Union Minister for Environment and Forests, Jairam...