-The Times of India It was not just private sector firms that made a killing out of the Commonwealth Games held last year. In a clear sign of how even public sector units viewed the Games as a windfall, the Comptroller and Auditor General has found that Electronics Corporation of India Ltd (ECIL) made huge profits out of its contract for Integrated Security System (ISS) for the Games. Given on a "nomination...
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Mining ban in Karnataka may push up steel prices by Rakhi Mazumdar
Steelmakers and mine owners, reeling under a ban on mining in Karnataka, are keeping their fingers crossed about the Supreme Court hearing scheduled on Friday. The uncertainty in iron ore and the resultant rise in ore prices have led the steel industry to actively consider an upward revision in prices, just days after most companies mentioned of keeping product price levels unchanged. "Iron ore spot prices have been rising by $1-2 daily...
More »Indian tax plans condemned by mining companies by Suvojit Bagchi
Mining firms have criticised the Indian government's decision to make them pay more tax to help develop tribal areas affected by the Maoist uprising. Various trade associations have denounced the bill, under which firms will pay upto 26% extra tax on profits. The new legislation is to be introduced during the new parliamentary session which started on Monday. Maoist rebels say they are fighting for the rights of indigenous tribal people and the...
More »Trinamul door ajar on PPP land by Biswajit Roy
The Trinamul Congress will accept government acquisition of land for the private sector only if the plots are required for projects under public-private partnership (PPP) and serve a public purpose. The stand was articulated by Trinamul Rajya Sabha MP and land expert Debabrata Bandopadhyay at a meeting with Union rural development minister Jairam Ramesh here today. The party had so far opposed any government role in acquisition of land for private...
More »The Karnataka mining report by Vicky Nanjappa
The report on illegal mining in Karnataka, compiled by Lokayukta Santosh Hegde and his team, may spell the end of the first Bharatiya Janata Party government in south India. While the report is voluminous, here are a few details of what the Lokayukta and his team have found while probing the illegal mining scam. In the report the Lokayukta clearly makes charges against Chief Minister B S Yeddyurappa and Minister for...
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