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Is GDP best measure of growth? Here's how to make it better

For India, there are three key steps we may explore. First, to measure the destruction of natural and social capital.


Dec 10, 2019, 08.25 AM IST



Employee association of CIL, SCCL to go on day-long protest over lack of pension reforms

The association says that pension of Coal India Ltd (CIL) and Singareni Collieries Company Ltd (SCCL) employees has not been reviewed since 1998 despite a provision requiring a review of the Coal Mines Pension Scheme (CMPS) every three years.

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  • As many as 373 infrastructure projects, each worth Rs 150 crore or more, are hit by cost overruns of more than Rs 3.89 lakh crore owing to delays and other reasons, according to a report.

    In the October to December quarter (Q3), we will be surpassing all our records.

    In a setback to the compant, the apex court declined to allow sale or transport of Rs 2,000-crore worth iron ore claimed by Jindal Steel and Power.

    NMDC also posted a marginal rise in iron ore production to 18.89 million tonne between April -November 2019 as against a production of 18.75 mt upto November 2018. While NMDC's Chhattisgarh mines accounted for a production volume of 13.33 mt (against 12.24 mt last year), its Karnataka mines contributed 5.45 mt in April-November 2019.

    Goa Mining People’s Front (GMPF) on Thursday appealed to the Centre to recommence mining activities in Goa by the end of this year. GMPF has also urged Prime Minister Narendra Modi to convene the meeting of group of ministers at the earliest so that the mining can resume at the earliest.

    Ashapura Minechem, Pokarna and Shirpur Gold Refinery were the top losers.

    The Navy is looking for ‘man out of the loop’ solutions that could involve autonomous systems that are being developed by the Defence Research and Development Organisation (DRDO) as well as foreign vendors, sources said.

    PSU accused of violating law by parking co’s share of leave encashment

    The government has allocated Rs 937 crore for exploration of mines that are not associated with Coal India, for the ongoing financial year, Parliament was informed on Monday. Of this fund, Rs 120 crore has been earmarked for regional exploration and Rs 817 crore for detailed drilling, Coal Minister Pralhad Joshi said in a written reply to the Rajya Sabha.

    “The company managed to produce nearly 11 million tonnes more coal than in October. Coal off-take for November 2019 grew by almost 17% on a MoM comparison. CIL supplied 47.37 mn tonnes of coal during the month under review compared to 40.5 mn tonnes in Oct 2019 – the increase in absolute terms is 6.87 mn tonnes,” a senior CIL executive said.

    Coal exit policies have been announced by 17 of the world's biggest insurers controlling 46 percent of the reinsurance market and 9.5 percent of the primary insurance market, said the Unfriend Coal campaign, a coalition of environmental groups, as it released its third scorecard on the sector.

    Senior Congress leader Randeep Singh Surjewala highlighted a Comptroller and Auditor General of India (CAG) report that was tabled recently in the state assembly and claimed that this report "exposed" the Khattar government's attitude of turning a "blind eye" towards illegal mining and not recovering the dues from the mining contractors.

    Consequently, any significant delay with respect to auctions and more specifically lease transfers will affect iron ore supply and prices, thereby putting further pressure on sector profitability. Non-integrated steel companies, which do not have access to captive iron ore mines, will be relatively more vulnerable in the event of such delay.

    Coal India (CIL) is planning to use drones to check illegal mining and pilferage. Its exploration arm, Central Mine Planning & Design Institute, recently tied up with Centre for Aerospace Research, Anna University of Chennai, for drone technology.

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