India will allow locally registered foreign firms to mine and sell coal when commercial mining is permitted as part of the opening up of the nationalised industry after four decades, Coal Secretary Anil Swarup told Reuters.
The industry body said a strong inter-ministerial coordination group is required to resolve sticky issues like the 'mining conundrum' and 'raw material securitisation' for sectors like steel.
Reliance ADA group is also planning to develop the railway infrastructure for transporting coal.
So, what's the problem if our present is screwed up when the future promises to be profitable? It's an Indian habit, notes Shyam G Menon.
The state government had recommended prospecting licence in favour of Posco-India thrice, but was unable to get them through.
In the long run, the decision could bring clearer rules to a sector that has failed to provide India with enough power because it has been so hamstrung by confusion and scandals over concessions allegedly handed to government cronies.
These firms owe Rs 13 trillion to lenders and account for 55% of all non-financial corporate debt.
Aditya Aluminium project ready but clearances still stuck for mine
During April-February, industrial output grew at 2.6 per cent compared with a growth of 2.8 per cent in the year-ago period.
Piyush Goyal emphasised that India is committed to pursue a green path to growth.
In the face of scramble for acquiring assets in natural resources like oil, coal and mines by large multi-nationals, the government is working on a policy enabling PSUs to step up search for key raw material assets, Prime Minister Manmohan Singh said.
The second wave of the pandemic in the country has derailed the recovery momentum of the domestic auto industry, which was poised for a comeback in the current fiscal after witnessing the two consecutive challenging years, ratings agency ICRA said on Thursday. Unlike the first wave where infections were largely localised to urban clusters, the second wave has seen deeper and wider penetration, including into rural hinterlands. Accordingly, outlook for various segments has been revised downwards, it said.
If purists are surprised as to why and how people are not demanding prohibition or not talking about past promises, both in the election manifestos five years back and even those made to the courts, the answer lies in how the state has been evolving and changing these past few years, says N Sathiya Moorthy.
Chidambaram promises to maintain fiscal discipline; admits inflation is an issue.
Output of the manufacturing sector, which constitutes over 75 per cent of the index, rose 8.5 per cent in January, compared to 8.1 per cent in the same month last year.
The government may have to resort, eventually and however unwillingly, to printing money, abandoned as policy and practice in the 1990, predicts T N Ninan.
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To a question on by when he expects investments to pick up, Jaitley said: "We are quite close to that point because there are a large number of investors who are waiting to come in and they only want to be doubly sure about the credibility of the decision making process and the stability of the policies."
Yes Bank was the top loser in the Sensex pack cracking 6.51 per cent, followed by SBI, Axis Bank, Vedanta, Sun Pharma, ICICI Bank, IndusInd Bank, ITC, Infosys and Tech Mahindra, shedding up to 3.69 per cent.
These numbers show overall exposure and are not a reflection that all loans are going to be impacted.
'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.'
However, the number of transactions declined to 76 in January-March this year from 110 in the year-ago quarter.
Hindalco is currently one of the frontrunners in the coal auction
'A growth of above 7 per cent when the fundamentals of the economy are becoming stronger still makes India the fastest growing large economy.'
Over 18 crore workers are expected to participate making this a much bigger strike than last year.
The government should give the first right of refusal in the ensuing coal mine auction to the companies which lost the blocks in the mass cancellation by the Supreme Court on Wednesday, former Coal Secretary PC Parakh said.
Trinamool Congress (TMC) supremo Mamata Banerjee on Saturday trained her guns on the Congress, saying that Prime Minister Narendra Modi will become more powerful as the grand old party is not serious about politics, and alleged that the country is suffering because that party does not take decisions.
They want the authorities to fulfill their security-related demands which include no duty in the mining area after sunset, increasing the number of security personnel and their presence in the workers' colony and in buses used to transport the workers. The operations have halted following a Naxalite attack on the site in which 10 CISF jawans and five Naxalites were killed. About 100 Nalco workers were held hostage by the ultras for over eight hours.
Congress a distant second with Rs 198.16 crores.
The increase in production will be from the existing mines.
CEOs fear any change in status of the mines will mean disruption in production, loss of investment and increased production cost for user industries.
Amid falling market share and a tough business environment, Infosys has been carrying out several structural changes.
There are already some signs of stress in this market.
India's goal of self-reliance has been paramount in the policy and practice of the country. The COVID-19 crisis gave us lessons on how to speed up efforts in that direction, he said.
Duty cut on raw material imports are not likely.
There were nearly 4,000 cabin crew with Jet when the airline was grounded; every fifth remains without a job to date. One cabin crew member with 10 years of experience has been forced to take up a teaching job; some have branched out into small businesses. Aviation jobs were scarce even before the Covid-19 pandemic arrived on Indian shores in early 2020. The situation has been exacerbated since.
Infrastructure, stricter implementation boost commercial vehicle sales
Equity investors should thank cash-rich biggies such as TCS, ITC, HUL, Nestl, and Bajaj Auto for this.
Tata Steel's domestic operations have been its cash cow.
Benchmark share indices gained for the fifth straight session on Thursday led by index heavyweight Reliance Industries.
Bharatiya Kisan Union leader Rakesh Tikait on Saturday asked the Centre to explain to farmers why it does not want to repeal the three farm laws, while promising it that they 'will not let the government bow its head' before the world.
