It is probably the best news for Mumbai's leading builders who had invested thousands of crores of rupees on buying prime plots to develop flats and residences but got stuck in the environment tangle as the land was classified later as forest area. After years of uncertainity, the Supreme Court on Monday cleared their construction activity. However, the green light came with two riders — one they must pay the...

Without policy efforts to deal specifically with issues such as reduced incomes and unemployment, the global economic crisis will be far from over. FOR most economic commentators, 2010 begins on an optimistic note. Just a year ago, there was much gloom about the world economy. The worst financial crisis since the Great Depression had broken out in full fury; asset markets in the United States, Europe and then most developing...

After seeking reply from Mukesh Ambani-led Reliance Gas Transportation Infrastructure Ltd (RGTIL) and others on Monday, the Supreme Court on Thursday again issued notice to the firm, the ministry of petroleum and others on another batch of petitions filed by land owners from Surat seeking adequate compensation from the company for using their land for laying gas pipelines to transport natural gas from Krishna-Godavari basin to Gujarat. A Bench headed by...

As far as natural resources like minerals, land and water are concerned, Jharkhand is among the richest States of India. Yet, its people are among the poorest. Mind you, almost 30 per cent of them are tribal. Out of the total population of 288.46 lakhs, 223.1 lakhs live in rural areas and only 65.36 lakhs are urban dwellers. Even a cursory glance is sufficient to convince that most of the...

The collapse of the Dubai dream is not without any implications; it may be an indication that the travails of finance capitalism are not over. GLOBAL capitalism is in a phase in which it must deal with the fruits of the overextension during the previous boom, and there is no doubt that this is going to be painful. The financial crisis in the United States and some other developed countries...