The Expert Appraisal Committee of the Union ministry of environment & forests will submit its report soon to the ministry on the Posco project after scrutinizing the Comprehensive Environment Impact Assessment (EIA) submitted by the company. "The EAC would submit its report soon to the MOEF after scrutinizing the Comprehensive EIA submitted by Posco India. The EAC met yesterday for over three hours and there we reiterated our stand on issues...

Yaga Venugopal Reddy , former Reserve Bank of India governor credited with saving the nation’s financial system from the 2008 meltdown, has said what many finance experts believed, but did not have the courage to admit publicly: microfinance is India’s subprime. “Ultimately, it’s something like subprime lending,” Mr Reddy told ET in an interview ahead of his book release. “The same incentives are operating here... it was securitisation and derivatives that...

A parliamentary committee has asked the government to consider incentivising private players to set up grain storage facilities as it prepares to implement the right to food. The government will require around 620 lakh tonnes of foodgrain annually to implement the food security law. The official procurement stood at 539.75 lakh tonnes in the recent marketing year. “(The) government should provide soft loans at affordable rates and subsidies to private players to...

In what may change the way banks and cellphone companies as well as official agencies collect and process information about individuals, the government is proposing legislation that will empower citizens with sweeping rights to legal recourse against any misuse of personal data. The first draft of the proposed legislation has been released for public debate by the department of personnel and training (DoPT). The main aim of the umbrella legislation will be...

Six years after a Human Development Report on Gujarat was published, the state government has embarked on another survey for a similar report, albeit district-wise, whose publication date is yet to be decided. So far, study reports on five districts — Surendranagar, Jamnagar, Sabarkantha, Dangs and Surat — have been submitted whose drafts have been reviewed and sent back to the authors for consideration. G K Vyas, Director, Human Development, said that...