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NEW DELHI: The government can go ahead and allocate mining leases on a first come, first served (FCFS) basis, attorney general GE Vahanvati has told the government. The AG’s advice, sought by the mines ministry where around 400 requests for mining leases are pending, comes at a time when...
NEW DELHI: Railways is still the preferred mode of transportation for commodities such as coal, raw material for steel plants, fertiliser and foodgrains. This is despite the steep freight rate hikes effected earlier this year. But a drop in throughput of cement might be a cause for concern. This...
NEW DELHI: NMDC has hiked iron ore prices by around 10 per cent on rising demand for the raw material used in making steel. The state-run miner’s latest move may prompt key customers such as Essar Steel India Ltd, JSW Steel Ltd and Rashtriya Ispat Nigam Ltd (RINL) to...
The Indian Air Force (IAF) has undertaken upgradation of its fighter aircraft to enhance their combat potential and to ensure their operational relevance, said Defence Minister A.K. Antony in the Lok Sabha on Monday. In a release by the ministry, Antony said that contract to upgrade MiG-29 was signed...
In a first, Indiaa nd Japan have decided to conduct a joint exercise involving their navies later this year off that country. A decision to this effect was taken during the meeting between External Affairs Minister S M Krishna and his Japanese counterpart Koichiro Gemba at the 6th India...
Taking a dig at India’s defence expenditure which was lowest compared to countries like China and Pakistan in terms of GDP, a Parliamentary panel said there was an urgent need to build defence capabilities to fight a ‘two-front war’. The panel highlighted huge gaps between the required and existing...
The recent launch of the Agni 5, the intercontinental ballistic missile, makes it a good time to look at how the Defence Research and Development Organisation (DRDO) is managing its finances and funding for ambitious projects. IndiaSpend carried out a 10-year study of available figures and found DRDO seemingly...
NEW DELHI: The Supreme Court today ruled that the Central Government’s permission was required to proceed with the criminal prosecution and trial of five Army personnel on charges of killing five persons in a fake encounter in Pathribal in Anantnag district of Jammu and Kashmir on March 25, 2000....
Deal with Aditya Birla Group will help Biyani move closer to his goal of making his company debt-free by March ’13 MUMBAI: Life has turned full circle for Kishore Biyani. He set up a garments company in 1987 that went on to become Pantaloon Retail (India) Ltd (PRIL), the...
MUMBAI: The Insurance Regulatory and Development Authority has taken a U-turn in its stance on single premium life policies by deciding to allow companies to sell such policies after threatening to halt them, citing high risk. Life insurers have been lobbying that these products are not as risky as...
By Barun Das Gupta KOLKATA: Assam politics has for quite some time been as dull as ditchwater. People have lost all interest in the ongoing talks between the ULFA leaders and the Centre. They have realized that the talks will continue for a long time without producing any tangible...
By Rashmi Saksena What a vulgar move, what an indecent proposal! How gross can the Union Cabinet get by recently passing a Bill that seeks to make it illegal for below 18 year olds to have sex. Before I raise the hackles of conservatives, concerned parents of adolescent girls...
From Pradeep Kapoor LUCKNOW: After drubbing in UP assembly polls, BJP is gearing up for better performance in civic polls scheduled in June-July. Civic polls are biggest test for newly appointed state BJP Luxmi Kant Bajpai who has to ensure good performance for party. Senior BJP vice-president and MLA...
NEW DELHI: The country’s power sector requires Rs 13.72 lakh crore in funding for the 12th Five-Year Plan (2012-17), the government said today. “The Working Group on Power for formulation of the 12th Five-Year Plan has estimated total fund requirement of Rs 13,72,580 crore for the power sector,” Minister...
MUMBAI: Now,India can build cheaper nuclear reactors, than even South Korea. Talking to TOI on the eve of his retirement, Dr Srikumar Banerjee, secretary in the Department of Atomic Energy (DAE), said India can now manufacture nuclear reactors at $1,700 per unit. Come May, Banerjee will make way for...
MUMBAI: The coal ministry has issued revised guidelines for preparing mine closure plans, incorporating a few stringent provisions. Mine owners would now have to open escrow accounts with scheduled banks, with the Coal Controller’s Organisation (CCO) as an exclusive beneficiary. When the final mine closure scheme is implemented by...
NEW DELHI: Keen to stay clear of the minefield of scandals and lawsuits, the Union mines ministry has asked the attorney general (AG) whether mining lease applications can be disposed of under the first-come-first-served (FCFS) policy, until upcoming legislation makes auction mandatory. The ministry’s concern is that granting mineral...
NAGPUR: Shortage of coal in various plants, providing power to MSEDCL, and wet coal problem in 2011 will prove costly for power consumers this year. MSEDCL had purchased electricity from the two power exchanges to make up for the reduction in generation in Mahagenco and NTPC plants. The cost...