'The much touted Rs. 20 lakh crore relief package announced by Prime Minister Modi and detailed by the Union finance minister has turned out not to be a relief package at all. Instead of offering a fiscal stimulus, she has urged enterprises of all sizes to borrow from banks to tide over the immediate crisis. To millions of poor people staring at prolonged starvation, all she has offered is an additional allocation for the MNREGA programme.
'Government of India’s environment ministry has proposed a new set of rules to govern the country’s environment clearance regime for industrial projects like dams, mines, airports, highways etc. The draft Environment Impact Assessment (EIA) notification 2020, which was unveiled last week, proposes to ease processes for business, does away with the public hearings for many projects, ease rules for expansion of projects among other things.
'Union finance minister Nirmala Sitharaman confirmed on Friday that the troubled Yes Bank had had loan exposure to “very stressed” companies associated with Anil Ambani and Subhash Chandra, two industrialists considered close to Prime Minister Narendra Modi. A stack of bad loans had reduced to almost zero the net worth of Yes Bank, whose board was superseded by the RBI on Thursday night...'
'...The Hasdeo Arand is one of the largest contiguous stretches of dense forest in central India, covering about 170,000 hectares (420,080 acres) of the state of Chhattisgarh. It is rich in biodiversity, contains many threatened species and is home to elephants, leopards and sloth bears. It is also home to the Gond, one of India’s Adivasis, the name given to the country’s original indigenous peoples. Unfortunately for Porte, the Gond and other Adivasis forest dwellers, the Hasdeo Arand sits on top of more than a billion metric tonnes of coal reserves.
'The Public Accounts Committee (PAC) of the Gujarat legislative Assembly recently prepared a report to follow up audit observations that had been submitted in 2014 by the Comptroller and Auditor General (CAG) of India to the Gujarat government sharply criticising it for bestowing “undue” favours on a company in the Adani group that operates India’s largest private port. Gautam Adani heads the Adani group of companies. He is the country’s second richest man, according to one estimate. The industrialist is perceived to be close to Prime Minister Narendra Modi...
'On 10 August 2018, the Supreme Court of India imposed damages of at least Rs 105 crore on Goel Ganga Developers (India) Pvt. Ltd for breaking environmental laws and to mitigate the ecological damage wreaked by the real estate company while constructing a residential and commercial project. Goel Ganga, the Supreme Court said was “intransigent”, “unapologetic” and had “manipulated officials and authorities.” Eight days later, Nitin Gadkari, the union minister for road transport and highways, wrote to the then environment minister, Dr.
'The Central Bureau of Investigation (CBI) has filed a criminal case against Adani Enterprises Ltd for colluding with officials of the National Cooperative Consumers’ Federation (NCCF) to unfairly win a contract for supplying coal to an Andhra Pradesh government-owned company. The agency named former NCCF chairman Virender Singh, its then managing director G.P. Gupta and former senior adviser S.C. Singhal in the first information report (FIR). Adani Enterprises and the NCCF officials were booked under the Prevention of Corruption Act...'
'What happens when you ask leaders in the Narendra Modi government why they resent criticism? You get publicly hauled over the coals – and told you “hurt national interest” – by a whole army of Bharatiya Janata Party ministers and senior leaders. On Saturday, Bajaj Group chairman Rahul Bajaj asked a group of ministers – including Amit Shah, Nirmala Sitharaman and Piyush Goyal – some tough questions on lynching, Pragya Thakur and the government’s ability to accept criticism...
'Biocon Chairperson and Managing Director Kiran Mazumdar Shaw on Sunday said the government did not want to hear any criticism on the economy while expressing hope that it reaches out to India Inc. to work out solutions to revive growth. Shaw’s remarks came a day after veteran industrialist Rahul Bajaj said the people were afraid to criticise the government...'
'Before unveiling the electoral bonds scheme – which renders political funding more opaque and allows parties to receive unlimited amounts of money without having to disclose where it came from – the Narendra Modi government ignored the Reserve Bank of India’s recommendation not to go ahead with it, HuffPost India has reported. Four days before Arun Jaitley was to announce the scheme in his Budget speech of 2017, a tax official going through the documents realised that the change would require amendments to the Reserve Bank of India Act, Nithin Sethi reports.
