“At present, governments wrongly treat royalties as revenue, not a capital receipt, and merrily spend it, cheating our children and future generations of their rightful inheritance. There are a number of other inheritances that are depleted by mining, including the environment, the social fabric of the local community, the employment and incomes associated and the right to use the ore for useful things. Each of these inheritances is also subject to the inter-generational equity principle, and mining must be planned in such a way to ensure we avoid, restore or offset any damage to these inheritances, and if that is not possible, capture the full value and save it for future generations. This is only ethical, moral, fair, just and right,” Basu remarked. … [Read more...] about Whose minerals are they anyway?
Safeguard duty under customs
Even in the India-Korea CEPA (Comprehensive Economic Partnership Agreement) signed in 2009, "we found that our exports to Korea was USD 3.4 billion at the time of signing of this FTA" and it has increased to "only USD 4.6 billion in ten years", but imports into India have increased "exponentially and our trade deficit has kept on expanding and increasing". … [Read more...] about India has given very good, balanced offer to US for proposed limited trade deal: Piyush Goyal
"The three codes would come in the Monsoon session of Parliament which is scheduled to begin on September 14. We have circulated draft rules of the Code on Wages which would also be finalised soon," Gangwar had said addressing a virtual FICCI conference on 'Code on Wages: Safeguarding Rights of Lakhs of Essential Services Workers' on September 1, 2020. … [Read more...] about Cabinet discusses labour reforms, to push remaining 3 Codes in Monsoon session
Hero’s entry into electric two-wheelersA family pact between the Munjals is stonewalling Hero MotoCorp’s grand entry into the segment, even as its close rivals Bajaj Auto and TVS Motor Company start delivering electric scooters to their customers.The pact states that the Pawan Munjal-led Hero MotoCorp cannot use the Hero brand name to launch electric two-wheelers. Hero Electric, the company headed by Pawan’s cousin Naveen Munjal, has exclusive rights to produce and sell electric two-wheelers under the Hero brand. … [Read more...] about This week in auto: Tractors become first to beat previous year’s sales even as cars, bikes struggle