The Centre has completed asset monetisation worth Rs 96,000 crore during FY22, surpassing the target of Rs 88,000 crore. For FY23, it has set itself a goal of Rs 1.62 trillion, and already has a pipeline of assets worth Rs 1.6 trillion under advanced stages of implementation, an official said. Union Finance Minister Nirmala Sitharaman on Tuesday reviewed the progress made by several ministries and nudged departments to achieve the targets set for them, the official added.
The strong message from the prime minister is of continuity of policies he considers right with strong emphasis on execution, points out T N C Rajagopalan.
Greenpeace activists staged a protest demanding an end to deep sea mining outside the ministry of industry in Prague, Czech Republic, last week.
In seeking visa approvals for engineers from China, the company has reasoned that India lacks the expertise to set up such a solar facility.
Prime Minister Narendra Modi was on Tuesday officially conferred the 'Order of St Andrew the Apostle' award by Russian President Vladimir Putin for his contribution to fostering bilateral ties between the two countries.
As many as six merchant bankers are vying to handle and manage the sale of the government's 29.53 per cent residual stake in Hindustan Zinc Ltd (HZL), according to an official notice. ICICI Securities, SBI Capital Markets, HDFC Bank, IIFL Securities, Axis Capital and Citigroup Global Markets will make their presentations via video conferencing before the government officials on Friday, highlighting their plans in managing the offer for sale. The bankers to manage the sale process would be finalised after the presentation and opening of financial bids on August 12, as per the notice.
Goa Chief Minister Manohar Parrikar on Monday alleged that officials of Union Ministry of Environment and Forests took bribes from the state's mine-owners before Jairam Ramesh took over the ministry.
'As of now there are no mining activities,' but 'who knows the future?'
For the country's maiden offshore mineral mining auction, the Centre is planning to relax the rules on the number of chances for bidding. Under the newly announced draft Offshore Areas Mineral (Auction) Rules and Offshore Areas (Existence of Mineral Resources) Rules, the ministry of mines is planning to offer three chances to potential bidders in its forthcoming inaugural offshore mining auction. If a single bid is not received during the second attempt, the plan is to initiate a new round of bidding for the third time.
Indian and Canada are looking at exploring more opportunities in the mining sector.
The proposals cleared by the DAC include new-generation anti-tank mines, air defence tactical control radar, heavy-weight torpedoes, medium-range maritime reconnaissance and multi-mission maritime aircraft, flight refueller aircraft and software-defined radios.
Controversy shrouds the expansion of the Akhilesh Yadav ministry on Monday with a social activist throwing a spanner by challenging before Governor Ram Naik the possible re-entry of tainted former Mines Minister Gayatri Prajapati.
The company signed a JV agreement with Coal India to set up 5000 Mw of solar and thermal projects. These projects are expected to commence between 2023 and 2027.
India's industrial production growth accelerated to a four-month high of 5.7 per cent in February 2024, mainly due to the good performance of the mining sector, according to official data released on Friday. The factory output growth measured in terms of the Index of Industrial Production (IIP) was 6 per cent in February 2023. The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in December and 4.1 per cent in January 2024.
India and Canada have mutually beneficial political and economic linkages. The two countries should get together and find a solution. The expulsion war should, in the meantime, be a guarantee against any deterioration of the situation, asserts Ambassador T P Sreenivasan, the first Indian head of mission to be ever expelled by any country.
India's industrial production growth slowed to 3.8 per cent in January, while the February retail inflation at 5.09 per cent remained within the Reserve Bank's comfort zone for the sixth straight month, according to the latest government data. Growth in factory output, based on the Index of Industrial Production (IIP), slowed to 3.8 per cent in January 2024, mainly due to poor performance of manufacturing, mining and power sectors, according to the data released by the Ministry of Statistics & Programme Implementation.
The Union home ministry wants state governments to take proactive action against illegal mining as it has become a national security threat. In a recent meeting with the states, the home ministry said that windfall profits from such mining of minerals and sand were being used by the mafia to aid extremist elements.
A complete ban on mining activities in areas of national parks, tiger reserves and wildlife sanctuaries could be on the anvil if the government agrees to the recommendations of a high-level environment ministry panel.
Nine mineral-rich states -- Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Odisha, Tamil Nadu and Telangana -- are readying 75 blocks for auction.
The government is planning to tweak its procurement policy to give a fillip to domestic manufacturing. The industry department has floated a proposal to raise the minimum local content requirement for public procurement for Class-I and -II suppliers from 50 per cent currently to 70 per cent, and 20 per cent as of now to 50 per cent, respectively.
Mines Minister B K Handique said that his ministry is not in favour of any further equity dilution in the navratna PSU.
Soon after stalling Vedanta's proposed bauxite mining project in Orissa, the Environment Ministry on Tuesday said the licence granted to mining firms supplying the mineral to its alumina refinery is under scanner.
While the gold policy covers every aspect, from sourcing gold to trading and investing in it, experts assert that the policy is incomplete if mining of gold in India isn't promoted.
The government has garnered Rs 2 lakh crore by auctioning 33 blocks.
Because of his proximity to Indira Gandhi, he was able to intervene directly at the level of the PMO, which he did in the days leading up to the partition of Pakistan in 1971 when he transferred crucial information about Pakistan's moves via information handed to him by an East Pakistani diplomat in Poland where he was posted.
The Prime Minister's Office has asked the Coal Ministry to monitor closely the process of allotment and auction of coal mines to ensure that there is no disruption in the production of dry fuel.
While there are some new faces in the cabinet, leaders such as BJP president JP Nadda and Jual Oram have returned as ministers.
To boost domestic manufacturing under the Make in India initiative and reduce dependency on imports, the government is expected to announce in the Budget an increase in the minimum local content requirement for public procurement, with certain sectors being granted exceptions. Currently, firms producing goods, services, or works with at least 50 per cent local content are classified as Class-I local suppliers and are preferred the most in government procurement.
A new law has been put together to actually take control of the mining sector away from the government, specially the Union government, and make regulation by an independent authority the basis of mineral development in India.
Five Parliamentarians from Karnataka including Janata Dal-Secular leader and former chief minister H D Kumaraswamy, Bharatiya Janata Party leaders Nirmala Sitharaman and Pralhad Joshi, who were part of the previous Cabinet, on Sunday took oath in the new National Democratic Alliance Council of Ministers headed by Prime Minister Narendra Modi.
Under attack over illegal mining issue in Gautam Budh Nagar, Uttar Pradesh Chief Minister Akhilesh Yadav on Monday said stern action was taken whenever such incident was reported in the state.
Coal Minister Sriprakash Jaiswal on Thursday said mining should be allowed in 90 per cent of the areas classified as no-mining zones by the Environment Ministry and a proposal will be tabled before Cabinet soon, after ascertaining the views of different ministries.
'Heavy rains are not the primary reason for landslides in Wayanad.' 'There are all sorts of (human) intervention going on in that area.'
This may be in line with Russia's private military company, Wagner Group, which was controlled until 2023 by Yevgeny Prigozhin, a former close ally of Russia's president Vladimir Putin. The group used the infrastructure of the Russian Armed Forces.
The Supreme Court on Friday suspended with immediate effect mining of iron ore in 10,868 hectares in Bellary district of Karnataka.
K Natwar Singh wore many hats as he straddled the worlds of diplomacy, politics and writing but what remained consistent across decades was his sharp-wit and plainspeaking.
India has about 9 per cent of the total gold reserves in the world, yet imports gold worth more than Rs 65,000 crore. The government plans to reduce gold and diamond imports by Rs 20,000 crore.
India on Tuesday outrightly rejected as 'senseless' China renaming some places in Arunachal Pradesh, and asserted that assigning 'invented' names does not alter the reality that the state 'is, has been, and will always be' an integral part of India.
POSCO officials have said it was unlikely to build the plant without assured supply of iron ore.
