India's environment ministry has given conditional approval to South Korean company Posco's plan to build a steel plant in the eastern state of Orissa. The ministry has also cleared the plant's captive port and power plant if certain conditions are met. The $12bn plant is India's largest foreign investment project. Last year, a government panel said that environmental clearances for the plant be scrapped. Critics say the project will exhaust iron deposits in...

Clearing a protracted uncertainty over India’s largest-ever foreign direct investment, the Union Environment Ministry today gave its approval to South Korean steel major POSCO’s proposed iron and steel plant in Orissa. In an order today, the Ministry gave environmental clearance for the construction of a 12-million tonne per annum capacity iron and steel plant (4 million tonnes in first phase) and a captive power plant at Jagatsinghpur district of Orissa. It also...

A recent newspaper report noted that the Union Government had gazetted the Coastal Regulation Zone (CRZ) Notification 2011 and received strong criticism from organisations that work for protecting coastal ecosystems and fight for the rights and welfare of fisherfolk. About 20 organisations working in the field of protecting fishermen's rights and lawyers backing them have taken strong exception to the notification. This is on the ground that the new notification,...

The countrywide share of corporate retail in food distribution tripled in the past four years when retail food prices showed the greatest increase. THE dramatic increase in food inflation over the past two years has been associated with several surprises. One major surprise has been how the top economic policymakers in the country have responded to it. The initial response was one of apparent disbelief, followed very quickly by the...

Controversies surrounding the two real estate projects, the Adarsh Society building in Mumbai and the Lavasa city near Pune, bring to the fore the huge costs of poor enforcement of town planning rules and inept administration of urban development. In the case of Adarsh housing, a 31-storeyed apartment building raised in the Backbay reclamation area and meant for Kargil heroes, the Maharashtra government not only turned a blind eye to...