Since the court had earlier questioned distribution of mining rights through the screening committee route, experts say the solution worked out would be weighed on the basis of legality.
The coal-scam has taken an important turn as the Central Bureau of Investigation has charge-sheeted former bureaucrat P C Parakh and industrialist Kumarmangalam Birla. The next big thing is to see that if the coal-blocks allotted, fraudulently, are cancelled or not either by Supreme Court or by the government as pre-emptive action.
Index heavyweights Reliance Industries, HDFC and Infosys were the top Sensex gainers.
PSUs will get direct allotment.
While three operational mines in Chhattisgarh had a capacity of 12 million tonnes (mt), six were yet to start production.
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
Enunciating slew of measures initiated by the UPA to augment the sector, the finance minister said 19 oil and gas blocks were given out for exploration and 7 new airports are under construction.
Sebi might come out with a regulatory framework for issuance of 'green' bonds
Rules for mining, roads, power and irrigation projects relaxed.
Security of tenure is important for a bureaucrat to work efficiently. There has to be some rationale behind posting a bureaucrat to a particular department, says former cabinet secretary T S R Subramanian
Former top bureaucrats have come out in support of ex-coal secretary P C Parakh, who has been named by the Central Bureau of Investigation in the coal blocks allocation scam, warning that harassment of honest officers will erode the government's credibility and stop senior officers from taking decisions.
Prime Minister Narendra Modi's decision to open commercial coal mining to private players is a key step towards bringing order to the country's chaotic power industry and ending the chronic blackouts that impede its economic rise.
Dual methodology for e-auction to introduce price ceiling for power sector
JSPL is under CBI lens for giving wrong information about its land, water supply and previous allocations to get coal block in Jan 2008.
Finance Minister Arun Jaitley has said the larger interest of the public sector would be fully protected.
Since the US, the second biggest emitter of greenhouse gases after China, has shifted in a major way to shale gas, the focus of global environmentalists' ire has fallen on India, which is the third biggest emitter, reports Darryl D'Monte.
In the third reshuffle since coming to power, Prime Minister Modi raised the strength of his Council of Ministers from 73 to 76.
ONGC's chairman and managing director Sudhir Vasudeva tells Business Standard that any price for natural gas that is more than $4.2 a unit is good for the company.
The finance minister admitted that there was no quick-fixes to economic problems and the government is working to stabilise the economy which may take time.
'The transmission sector is going to be the next sunrise industry.'
Friendlier government policies, greater demand and better supply of coal have fuelled investor interest.
The shift to gross calorific value-based grading of coal aligned domestic prices with international benchmarks.
Recent investigations into the telecom spectrum and coal scams have made bureaucrats very wary of taking decisions.
Dr Manmohan Singh's role in the sordid saga of the Coal Allocation Scam was always Delhi's worst-kept secret; calls for his interrogation will mushroom after he was named by P C Parakh, says T V R Shenoy.
Coal industry expert Sunjoy Joshi tells Sheela Bhatt/Rediff.com that the NDA's e-auction of coal blocks will not solve the fundamental problems that dog the industry.
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Crony capitalism will of course generate investment and ensure profit for private capital, but it won't give employment or income to the people. If you can make money by selling coal or speculating in land, why produce electricity, why invest in research and development, why even set up factories, asks Praful Bidwai.
'This country has become cynical, the country has lost hope. Prime Minister Narendra Modi is getting back hope in this country.' 'We are deconstructing the past which had corruption, inefficiency, policy paralysis, a tottering economy where investors had lost confidence, and people had become cynical. We are changing that, we are bringing confidence back to the people of India.'
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