A Group of Ministers (GoM) will discuss on Thursday issues pertaining to illegal mining, a ban on iron ore exports, the new mining legislation and setting aside a share in the profits of mining companies for the development of tribal areas. Officials of the Ministry of Mines said Minister B.K. Handique was pushing for the Ministry's proposal to make mining companies in tribal areas shell out a part of their equity,...
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Iron ore mines going for Rs 1 lakh in Chhattisgarh? by Supriya Sharma
There's not much you can buy in terms of assets for Rs 1 lakh. But two Delhi businessmen gained access to a multi-crore iron ore mine in Chhattisgarh for just this much. On June 2, 2004, two brothers, Atul Jain and Sanjay Jain, pooled together Rs 1 lakh in Delhi to set up a company, Pushp Steel and Mines Ltd. The same day, the company applied for a prospecting licence...
More »Rlys extends helping hand to FCI in lifting stocks from Punjab, Haryana by Praveen Kumar Singh
Indian Railways has come to Food Corporation of India’s (FCI) rescue in flood-hit Punjab and Haryana, where part of its foodgrain stocks have been rotting due to heavy rains. The national transporter has given a discount of 35% to the public sector food procurer to carry grains from northern India to other parts of the country. The railways also expects to boost its own revenue by transporting a large volume of...
More »Raman, Jairam in mining war by Suchandana Gupta
A tussle between the Chhattisgarh government and the Ministry of Environment and Forests (MoEF) over an elephant reserve has reached the Prime Minister’s Office (PMO). And the dispute is emblematic of the way the richly forested state is hurtling to get the developed tag by shaving off its pristine tree cover. Since 2004, the Chhattisgarh government has signed 102 memorandum of understandings (MOUs) with industrial houses for production of steel,...
More »The Land Bank Ledger by Sugata Srinivasaraju
The Karnataka government is getting ready to host the Global Investors Meet (3- 4 June). A similar jamboree held some years ago, when S M Krishna was chief minister, had been a resounding flop, but this one, the government believes, would be a runaway success. There has been no dearth of publicity for the event in the media and there has been no shortage of roadshows on foreign soil. A...
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