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Daily Archives: August 30, 2018

Challenges at BIMSTEC

The Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation (BIMSTEC) summit in Kathmandu this week, which Prime Minister Narendra Modi is scheduled to attend, will be another milestone for India after the BRICS-BIMSTEC Outreach Summit hosted by it in 2016, as the grouping has gradually emerged as a …

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How not to do an environmental assessment

The “redevelopment” projects of Delhi which have been in the news are caught up in legal tangles. In these, it is the ones related to their environmental approvals that stand out. This article outlines three ways in which these projects have used the Environmental Impact Assessment (EIA) process to subvert …

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A people’s campaign to rebuild Kerala

The material loss due to the Kerala floods has been estimated at Rs. 26,000 crore, but beyond this there has been an immense loss of natural, human, and social capital for which no estimates are available. There is no doubt that the short-sighted attempts in building man-made capital (buildings in …

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The crackdown on civil society

It is a truth universally acknowledged that the modern democratic state, armed with technologies of surveillance and control, possesses the kind of power that has never ever been exercised by any other state in history. In a democracy, the individual transits from subject to citizen. Yet there is no one …

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‘FDI: India remains top destination’

India remains a preferred destination for foreign direct investment (FDI) as domestic consumption remains strong, according to the RBI Annual Report. With manufacturing sector gathering momentum, helped by both services and agriculture sectors, consumption demand remains robust in the country making it an attractive investment destination, the report said. India …

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Cabinet nod for 79% rise in outlay for postal bank

The Cabinet on Wednesday approved an increase of 79.3% in the project outlay for setting up the India Post Payments Bank to Rs. 1,435 crore. The move comes three days ahead of the nationwide roll-out of the payment bank by Prime Minister Narendra Modi. The additional sum of Rs. 635 …

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‘NTPC open to buying stressed power assets’

Power generator NTPC is undertaking due diligence of some of the stressed power assets in the country. NTPC was not averse to acquiring them as long as they met a certain criteria, a top official of the public sector enterprise said, adding: “We are evaluating… already due diligence is being …

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‘Sterlite closure taking a toll on downstream units’

Production of refined copper has slumped by 47.1% during the first quarter of FY19. This is primarily attributed to the shutdown of the 400 KT (kilo tonne) Thoothukudi smelter of Sterlite Copper, which accounted for 40% of the country’s copper smelting capacity. Domino effect The decline in domestic production has …

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Frauds on the rise at banks, warns RBI

The number of cases of fraud reported by banks increased both in terms of numbers and value in 2017-18, the Reserve Bank of India said in its annual report. Fraud cases, which were generally hovering at about 4,500 in the last 10 years, increased to 5,835 in 2017-18, the report …

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