So what if it was the largest-ever FDI in India? The law finally caught up with it on 30 March 2012, when the National Green Tribunal suspended POSCO’s environmental clearance and ordered a fresh review. We can celebrate the outcome in this day and cynical age: It is still possible, though not easy, to get environmental justice in this country. Since June 2005, when the agreement between the Government of Orissa...
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Banks asked to roll out new farm loan products-Dinesh Unnikrishnan
The Finance ministry has asked public sector banks to devise products for Indian farmers to ensure they get adequate funding in emergencies. The government, the majority owner of such banks, wants them to roll out products such as emergency loans to farmers that will be linked to savings accounts, a weather index-based insurance product, and set up a credit guarantee fund that will aid farmers in the event of crop losses...
More »Govt plans to regulate pyramid marketing-Appu Esthose Suresh & Vidhi Choudhary
The Economic Intelligence Council will discuss the issue when it meets at the end of this month The government is likely to form a central agency to regulate so-called multi-level marketing (MLM) schemes after the Economic Intelligence Council found they had become a “preferred” mode of fraud. In the wake of an increasing number of economic offences, the United Progressive Alliance government has also decided to set up a multidisciplinary school...
More »Food security & the cup of Tantalus by Mani Shankar Aiyar
The key issue is not availability or resources but last mile delivery: how to reach foodgrains to people. In ancient Greece, the punishment given to Tantalus was to tie a cup around his neck and fill it with water. Every time he bent to take a sip, the cup would drop further and he would never get a drop into his parched mouth. From this comes the word “tantalizing”. Something like...
More »Fertilizer firms may have to refund subsidy gains-Aman Malik
Non-urea fertilizer prices were freed in April 2010, but GSFCL, DFPCL, RCF still got gas at regulated prices The fertilizer ministry is considering asking three non-urea fertilizer makers to return part of the gains they have made since April 2010 on account of gas supplied to them at regulated prices while they were allowed to sell their products at market prices. Rashtriya Chemicals and Fertilizers Ltd (RCF), Gujarat State Fertilizers and Chemicals...
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