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The Economic Times

AITUC decries 100 per cent FDI in coal

The All India Trade Union Congress has decried government’s decision to allow 100% foreign direct investment in coal, saying the move is retrograde and against the interest of the nation.

AITUC has urged all the unions in the coal federations to resist this government move and demanded government immediately withdraw the same.

“The central government has taken a decision to allow 100% FDI in coal sector. AITUC condemns this move as retrograde and not in the interest of the nation,” its aid in a statement issued on Thursday.

“This move will take the nation to pre-1971 conditions (coal sector was nationalised in 1971) when coal mining was being done in the most unscientific way, causing heavy casualties in human life as well as eco-balance,” it said, adding that at that time the mines were worked only to extract easily mined coal, leaving large portion of hard coal.

AITUC’s apprehension is that this could impact the tribal population of India. “Further, there is no guarantee that Forest Rights Act 2006 will be honored, leaving the tribals to the mercy of the coal magnets,” it added.

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