Every time Indian Environment Minister Jairam Ramesh says no to a project, his critics give him a new label: Green fundamentalist, anti-business, anti-growth, obstructionist, Luddite and Dr. No. The job has rarely attracted so much attention, but Ramesh has turned a sleepy and apathetic ministry into a controversial one in recent months. His pronouncements have stopped projects worth billions of dollars, creating powerful enemies in industry and business. His political colleagues have...
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Emerging economies have the worst records of underage workers
The Child Labour Index and map, produced by global risks advisory firm Maplecroft, rates 68 countries as ‘extreme risk’ with Bangladesh, China, India, Nigeria and Pakistan amongst those with the most widespread abuses of child workers.According to the ILO, there are 215 million children working throughout the world, many full-time. Of these, 115 million are exposed to hazardous forms of child labour. The index evaluates 196 countries on the prevalence,...
More »Mining industry unhappy over profit-sharing clause
The decision of the Group of Ministers (GoM) to force mining companies to share 26 per cent of their profits with local and project affected people hasn’t gone down well with the industry.Union Mines Minister B K Handique had said the Bill in this regard had been approved by the GoM.Hemant Nerurkar, managing director, Tata Steel, said: “I don’t think that is the way forward. Look at the world: no...
More »Mining firms must share 26% profits: GoM by Prasad Nichenametla
Despite objections from the coal ministry and concerns of the Planning Commission, a GoM under finance minister Pranab Mukherjee - discussing the new Mines and Mineral (regulation and development) Act 2010 - approved the proposal of sharing 26% net annual profits from the mining activity with displaced locals. The Bill replacing a 53-year-old law can be introduced in the ongoing session, minister for mines BK Handique said after the GoM meet...
More »India Deals Face a Reckoning by Geeta Anand
Jairam Ramesh, India's environment minister, will make a decision in the next week that could define the future of the country: whether to approve a $12 billion South Korean-owned steel plant, the largest potential foreign direct investment ever on the subcontinent. The plant, proposed by South Korea's Posco, has been in the works for years. It already has been cleared by the environment ministry, which Mr. Ramesh runs, and endorsed by...
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