A new draft Bill holds much promise to augment the development delivery mechanism. It is the new mining Bill, 2011, which has specific provisions for earmarking funds for development purposes in the mineral-rich districts that happen to be the regions with high poverty ratios. Revamped mining legislation can boost transparency in the vexed sector that seems much prone to illegality, corruption and extensive fraud.  Further, a well-crafted mining law can actually...

-The Times of India   The Mines and Minerals (Development & Regulation) Bill, cleared by the cabinet last week, signals that the government`s heart is in the right place. Under its provisions, coal firms must share 26% of their net profits with project area residents, while non-coal miners will have to provide them a sum equal to royalty paid to state governments. No system is in place at present to properly compensate...

In planning, pursuit of profit was not seen as being in the social interest in the post-Independence years, but now profit is the sole motive. FOR two decades now the Government of India has pursued a policy of accelerated liberalisation, dismantling controls, diluting regulations and making the state a facilitator of private investment. It is not that the presence of the state has diminished during this period, but that its role...

-PTI   Dubbing union cabinet’s approval of the Mines Bill, 2011 as “too little and too late”, Orissa Chief Minister Naveen Patnaik today said it would not help poor people living in mineral rich areas. Mr. Patnaik’s reaction came shortly after the union cabinet approved the new Mines and Mineral Development and Regulation (MMDR) Bill, 2011. Stating that the new bill has provision for 26 per cent profit sharing on coal and an additional...

-The Hindu   India will support the removal of food export restrictions for humanitarian purposes during the annual meeting of the International Monetary Fund (IMF) and World Bank in Washington later this week. The Finance Minister, Mr Pranab Mukherjee, will attend the two-day meeting on September 23-24. According to the agenda note prepared for the meeting, India has welcomed the recommendations of the Development Working Group (DWG) of the Agriculture ministerial. One of these...