Criticising the government’s Mining Bill, FICCI has said that the proposed legislation would adversely impact investments in the sector. It also termed the government’s scheme to provide shareholdings to tribals in mining projects as flawed. In a recent letter to Finance Minister Pranab Mukherjee, FICCI Secretary General Amit Mitra said that the proposed act will “adversely affect the industry”. “...the latest draft of the Mines and Minerals Development and Regulation Act 2010 proposes...

The Chhattisgarh government has opposed a new mining legislation, which stipulates licence allocation on a first-come-first-serve basis, stating that it is “dangerous for tribals” and would lead to loss of revenue for the State. Chhattisgarh Chief Minister Raman Singh, who participated in the meeting of the National Development Council last week, said he has raised the issue with Prime Minister Manmohan Singh as well. “We have opposed the new mining legislation and...

IN APRIL this year, the Supreme Court directed the Ministry of Environment and Forests to conduct a probe into French cement giant Lafarge’s limestone mines in Meghalaya. Lafarge was alleged to have been operating on forest land without proper clearance. Now it turns out the allegations against the Paris-headquartered multinational are graver. Bangladesh-based Lafarge Surma Cement Ltd — a joint venture between Lafarge Group and Spanish cement company Cementos Morlins —...

Peruvian economist Hernando de Soto turned classical capitalism on its head with his trickle-up theory: that if you create wealth at the bottom of the pyramid, it will find its way up. de Soto, president of the Institute for Liberty and Democracy, speaks to The Indian Express Editor-in-Chief Shekhar Gupta on NDTV’s Walk the Talk on the need for the poor to be able to participate in the global economy...

The Coal and Environment Ministries have reached a compromise solution on the controversial “no-go” designation of coal mining blocks in forested areas, following the reported intervention of the Prime Minister's Office (PMO). Speaking on the sidelines of a function here on Tuesday, Union Minister of State for Environment and Forests Jairam Ramesh said that while the final “go areas” will span 30,000 hectares more than his initial proposal, it was also...