Amid a furore over 26 per cent profit-sharing with locals under the proposed new mining law and demands for watering down the provision for PSUs, the Mines Ministry today said its final draft will go with the recommendations of the Group of Ministers. "Based on the discussion of the Group of Ministers (GoM), the final draft of the new mining bill is being prepared by the Mines Ministry and will be...

The Group of Ministers, headed by Finance Minister Pranab Mukherjee, on Friday cleared the draft mining bill, which makes it mandatory for miners to share 26 per cent of their profits with the people affected by their projects. “It is largely approved. One more sitting of the GoM remains, and after which it will go to the Cabinet. Whatever we have suggested has by and large been approved,” Union Minister for...

It approves 26 per cent share in profits for local people The draft bill proposes setting up of a fund to pay beneficiaries Final legislation likely to be introduced in the winter session of Parliament The Group of Ministers (GoM), headed by Union Finance Minister Pranab Mukherjee, on Friday approved the new Mining Draft Bill, including the provision that mining companies share 26 per cent of profits with local people affected by their...

It’s a silent epidemic that we’ve never been able to put a finger on. In debates on food security, the issues of hunger and malnutrition have always been add-ons. But for millions, getting the next meal is the difference between life and death. Four-year-old Akash Sahariya can barely stand up. His bleached hair, distended belly and matchstick arms are harbingers of certain death that awaits him. He is the fourth...

Posco, the world's fourth largest steel maker, was in January ranked among a global list of 100 companies that will last for the next 100 years. Interestingly, governance, transparency and capacity to handle environment-related issues are taken into account in selecting these 100 companies "Posco will not only last the next 100 years, but will go beyond, and India will play a big part in our story of survival and growth", CK...