Less than two years after splitting coal mining zones into ‘go and no-go’ — a move that has stalled almost every big-ticket coal mining project in India — the government is scrapping the policy. The Ministry of Environment and Forest (MoEF), which had framed the policy guidelines along with the Ministry of Coal, on Tuesday accepted that the categorisation of ‘go and no-go’ did not have any legal sanctity. The move was...

-The Hindu   Leaning heavily on a secret note on 2G pricing prepared by the Union Finance Ministry and sent to the PMO with Finance Minister Pranab Mukherjee's approval, Janata Party president Subramanian Swamy on Wednesday urged the Supreme Court to order a CBI probe against Union Home Minister P. Chidambaram for his role in the sale of valuable spectrum at throwaway prices. The 25 March 2011 document, written by P.G.S Rao, Deputy...

-The Hindu   The government on Tuesday extended the terms of reference of the Nilekani task force on direct transfer of subsidies to include an Aadhaar-enabled unified payment infrastructure. Set up by the Union Finance Ministry under the chairmanship of Unique Identification Authority of India (UIDAI) chief Nandan Nilekani in February, the task force was asked to recommend and implement a solution for direct transfer of subsidies on kerosene, LPG and fertiliser to...

The Finance ministry has put its seal of approval on a proposal to directly transfer subsidies to the bank account of a beneficiary that is linked to her Aadhaar, or unique identification (UID) number. The government has previously articulated its desire to experiment with direct transfers to make its management of subsidies more efficient and ensure benefits actually reach the targeted people. In a notification issued on Tuesday, the Finance ministry extended...

Planning Commission, RBI officials hold brainstorming deliberations with experts With the persistent near double-digit headline inflation, despite sustained increases in key policy rates by the Reserve Bank of India, turning out to be “a frustrating experience for policymakers,” senior officials from the Planning Commission, the Finance Ministry and the RBI met with a group of academic economic experts and representatives of the International Monetary Fund (IMF), the World Bank and the...