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New Delhi, Jan 15 () The government on Wednesday said it is initiating the process of coal auctions and the first round of sale of blocks under commercial mining is proposed to be launched in the ongoing fiscal.
The announcement comes days after the government approved an ordinance to ease mining laws that will allow global players to enter the coal sector.
 A company or a joint venture company incorporated in India is eligible to participate in commercial coal auctions, the coal ministry said in a statement.
"Moving ahead after the recent amendments in MMDR Act 1957 and the CMSP Act 2015, the Ministry of Coal is initiating the process for auction of coal mines for sale of coal. Expected to be held in multiple tranches, the first tranche is proposed to be launched in the current financial year," it said.
 The bidders would be required to bid for a percentage share of revenue payable to the government. The floor price shall be four per cent of the revenue share, the statement added.
 The government has released a list of 74 mines which it plans to auction under commercial mining.
 The ministry said it has urged interested stakeholders to view the discussion paper and the mine specific details and submit their views/suggestions, indicate their preferences for the mines to be considered for auction under the first tranche.
 The ordinance approved by the Cabinet last week also enables auction of unexplored and partially explored coal blocks for mining through prospecting license-cum-mining lease.
 These steps are expected to result in opening up of the coal sector completely for commercial mining to local as well as global firms. This would further boost economic growth and employment generation. SID ANU

Centre begins commercial coal auction process

<ul><li>The second phase of the Lok Sabha’s Budget Session will begin today(March 2). </li><li>The <keyword id="8854111" type="UNKNOWN" weightage="20" keywordseo="Direct-Tax-Vivad-se-Vishwas">Direct Tax Vivad Se Vishwas</keyword>, The Aircraft (Amendment) and Medical Termination of Pregnancy (Amendment) are some of the bills on the table for discussion. </li></ul>The second phase of the Lok Sabha’s (the lower house of Indian Parliament) Budget Session will begin today(March 2) with a considerable list of business for the day. However, the opposition is likely to turn the heat up on the government over the recent violence in Delhi. Opposition in the Parliament will <a href="https://www.hindustantimes.com/india-news/parliament-opens-today-turbulent-session-on-cards/story-PbeoApY4Di5x7EBUI799NI.html">seek</a> answers from the central government over Delhi's violence, which resulted in the death of 42 people and injured about 350 in the last one week. The communal violence has been the worst hit in the last three decades. It broke out last Sunday (February 23), with clashes between Anti-Citizenship Amendment Act and Pro CAA groups in several neighbourhoods of north-east Delhi. All that’s on the table Finance Minister Nirmala Sitharaman would be moving 'The Direct Tax Vivad Se Vishwas Bill, 2020 for consideration and passing to provide for the resolution of disputed tax. Medical Termination of Pregnancy (Amendment) Bill, 2020 is to be introduced by Union Minister Harsh Vardhan to amend the Medical Termination of Pregnancy Act, 1971. Union Minister Hardeep Singh Puri will move The Aircraft (Amendment) Bill, 2020. This is to be moved to amend the Aircraft Act, 1934. The Mineral Laws (Amendment) Bill,2020 would be introduced by Parliamentary Affairs Minister Pralhad Joshi to amend the Mines and Minerals (Development and Regulation) Act, 1957 and to amend the Coal Mines (Special Provisions) Act, 2015. He would also lay on the table an explanatory Statement showing the reasons for immediate Legislation by the promulgation of the Mineral Laws Ordinance, 2020. A report of the Standing Committee on Railways would be presented by Radha Mohan Singh and Sunil Kumar Mondal regarding the "Demands for Grants (2020-21) of the Ministry of Railways". The MPs to move that the "Lok Sabha recommend to the Rajya Sabha that the Upper House do agree to nominate seven members from it to associate with the Committee on Public Accounts of the House for the term beginning on May 1, 2020, and ending on April 30, 2021, and do communicate to this House the names of the members so nominated by Rajya Sabha." (With inputs from IANS) SEE ALSO: <a href="https://www.businessinsider.in/politics/india/news/a-former-ias-officer-forced-out-by-modi-administration-joins-andhra-pradesh-chief-minsiter/articleshow/74433172.cms">A former IAS officer forced out by Modi administration joins Andhra Pradesh Chief Minister</a> <a href="https://www.businessinsider.in/politics/india/news/guns-petrol-bombs-acid-drilling-machines-and-other-weapons-that-killed-21-and-injured-over-180-in-delhi/articleshow/74316215.cms">Guns, petrol bombs, acid, drilling machines — and other weapons that killed 21 and injured over 180 in Delhi</a>

All that will be discussed in Lok Sabha today as Parliament reopens— if the uproar against Delhi violence allows

New Delhi, Dec 16 () In sync with its commitment for 'ease of doing business', the Centre on Monday said it has decided to simplify the process of clearance for coal mining projects.
 The move, the government said, will not only expedite operationalisation of already allotted coal blocks, but also encourage prospective investors/bidders in future auctions.
 "The Ministry of Coal has re-engineered the mining plan preparation and approval process. This is likely to slash the approval period substantially from existing 90 days to about 30 days," the ministry said in a statement 
 "The re-engineering process includes simplification of guidelines and format for preparation of mining plan, amendments in relevant provisions of Mineral Concession Rules, 1960 and approval process," it said.
 The proposed simplified guidelines and format not only reduce the mining plan formulation time but also make the document lighter and easier to comprehend. This will further facilitate hosting the soft copy in an accessible data base, it added.
 The proposed system of mining plan preparation and approval allows the leasee to get mining plan prepared by Mining Plan Preparing Agency (MPPA) and get it certified by Mining Plan Certifying Agency (MPCA) and submit the mining plan to the coal ministry for approval. This will improve the quality and reduce time for detailed scrutiny, it said.
 "To ensure the quality of preparation of Mining Plan, government approved accrediting body will accredit agency(s) consisting a team of multi-disciplinary background, which will be recognised for preparation of mining plan and for certification (i.e. scrutiny from geo-mining &amp; techno-administrative angles), government will accredit agency(s) consisting of multi-disciplinary domain experts, who will certify that the mining plan prepared by MPPA is in line with the prevailing guidelines and is complete in all respects," it said.
 On certification by the MPCA, a committee in government will consider the mining plan for approval and the Centre will dispose application of within the stipulated period.
 To further ease the system, the entire mining plan approval process is proposed to be made online for application, processing and approval in the next phase.
 "This system will ultimately interact with PARIVESH portal of MoEF&amp;CC (Ministry of Environment, Forest and Climate Change) and similar portals of other related ministries and organisations of the Central and state governments," it said. SID RVK

Centre simplifies clearance process for coal mining projects

(Eds: Adding details) New Delhi, Mar 12 () Parliament on Thursday passed a bill that will remove end-use restrictions for participating in coal mine auctions and open up the coal sector fully for commercial mining by domestic and global companies. The Mineral laws (Amendment) Bill was passed in Rajya Sabha with 83 MPs voting in its favour and 12 against. The Lok Sabha had passed the bill last Friday. Replying after a brief discussion on the bill, Coal Minister Pralhad Joshi said the legislation will help in bringing more FDI in the coal and mining sector, and boost the economy. The minister said the bill was important as India should be using its own natural reserves, instead of importing coal worth Rs 2.7 lakh crore. "We have to produce coal and reduce imports," he said, adding more domestic output would lead to more electricity generation and also cut the oil import bill. The minister also assured the MPs that the government will strengthen the state-owned Coal India Ltd (CIL). "CIL will be strengthened. I have already given it a target to produce 1 billion tonne by 2023-24...There will be no problem in CIL," Joshi said. According to the minister, the legislation will bring a "sea change" in the sector. Joshi said the stress should be on exploiting reserves without harming the environment. He said India has one of the largest reserves of coal in the world and if it is not mined, it would turn into "mud". In a statement, the coal ministry said Parliament passed "The Mineral Laws (Amendment) Bill, 2020 for amendments in Mines &amp; Mineral (Development and Regulation) Act 1957 and The Coal Mines (Special Provisions) Act, 2015." The Mineral Laws (Amendment) Bill, 2020, will open a new era in Indian coal and mining sector specially to promote ease of doing business, the statement said. The Bill will transform the mining sector in the country, boosting coal production and reducing dependence on imports, the statement quoted Joshi as saying. The amended provisions clearly provide that companies which do not possess any prior coal mining experience in India or have mining experience in other minerals or in other countries can participate in auction of coal/lignite blocks. This will not only increase participation in coal/lignite block auctions, but also facilitate the implementation of FDI policy in the coal sector, the statement said. Now, the companies which are not 'engaged in specified end-use' can also participate in auctions of coal mines. The removal of the end-use restriction would allow wider participation in auction of coal mines for a variety of purposes such as own consumption, sale or for any other purpose, as may be specified by the Centre. The bill also allows prospecting licence-cum-mining lease (PL-cum-ML) for coal/lignite which increases the availability of coal and lignite blocks, and coal blocks of varying grades in a wide geographical distribution will be available for allocation, it said. The successful bidders/allottees have now been entitled to utilise mined coal in any of its plants or plants of its subsidiary or holding company. Amendments also provide for allocation of the coal mine to the next successful bidder or allottee, subsequent to termination of its allocation along with the matters incidental to it. A provision has also been made for appointment of designated custodian for management of the mines, apart from Schedule II mines, which have come under production and whose vesting/ allotment order has been cancelled. With the amendments, environment and forest clearances along with other approvals and clearances shall automatically get transferred to the new owners of mineral blocks for a period of two years from the date of grant of new lease. This will allow new owners to continue with hassle-free mining operations. During the period, they may apply for the fresh licence beyond the period of two years. The auction of lease of mines can now be started before expiry of lease period. It will enable the state government to take advance action for auction of mineral blocks so that the new lease holder could be decided before the existing lease gets expired. This will help in seamless production of minerals in the country. "The new provisions will also augment the exploration of the deep seated minerals and minerals of national interest by allowing Non Exclusive Reconnaissance Permit (NERP) holders to apply for composite licence or Mining Lease (PL-cum-ML).Various repetitive and redundant provisions of MMDR Act and CMSP Act have also been omitted for ease of doing business," it said. The Bill replaces the ordinance for amendment of the MMDR Act 1957 and CMSP Act which was promulgated on January 11, 2020. The Ordinance, which was cleared by the cabinet in January, had brought amendments to the Mines and Minerals (Development and Regulation) Act, 1957, and the Coal Mines (Special Provisions) Act, 2015. Earlier, 12 MPs from different parties expressed their views on the bill. The House saw division of votes on the bill after Elamaram Kareem of CPI (M) pressed for it. SID ABM

Parliament passes law to open coal sector for commercial mining

Vadodara, Feb 18 () Union Coal and Mines Minister Pralhad Joshi has announced that the government looks to stop the substitutable import of thermal coal from 2023-24. The government wants to bridge the substitutable shortfall by 2023-24, he told on the sidelines of a two-day brainstorming session organised at Kevadia in neighbouring Bharuch district, about 90 km from Vadodara. The government recently introduced an ordinance to amend regulations to open up coal mining to other firms outside of the steel and power sectors, Joshi stated. "Whatever the substitutable shortfall is there, we want toachieve it by 2023-2024. We want to stop the substitutable import of the coal." The government may conduct an auction of 100 fully explored blocks, Joshi said.The latest move in the coal sector is expected to create an efficient energy market, thereby bringing more competition, while reducing coal imports.The brainstorming session that started on Monday was organised to discuss out of the box solutions to overcome various bottle necks in increasing coal production and provide innovative solutions to the coal sector, Joshi said. Highlighting key takeaways of the session, Joshi said various ways and means were discussed with key stakeholders to achieve 1 billion tonnes coal production target by Coal India by 2023-24. The ministry of coal will coordinate with Indian Railways and shipping ministry to enable Coal India to evacuate more coal by 2030. Stressing upon the diversification in the coal sector, Joshi said that idea has also been mooted at the session that CIL could think of coming up with the art of pithead thermal power plants to transform it into an integrated company. He said it was also proposed that CIL could generate 5GW of solar power by 2023-24 and could diversify into coal gasification with a target of 5 million tonnes by 2030 enabling a sustainable energy mix for the country. He also announced that the ministry of coal will introduce an award to recognize and appreciate best practices in coal production, productivity, sustainability etc by coal companies. COR RSY MRMR

India looks to stop thermal coal import by 2023-24:Joshi

New Delhi, Jan 26 () In line with its plans to open up the country's coal sector, the government has called meetings with various stakeholders to discuss the draft methodology as well as key bidding terms and conditions for auction of coal mines for commercial mining.
This meeting will be held in Kolkata and Mumbai on January 28 and 29, respectively, the coal ministry said in a notice.
"All interested stakeholders are encouraged to view the discussion paper
and the mine specific details and attend the stakeholder's consultation meet," it said.
The notice said that the process for auction of coal mines for sale
of coal under the Coal Mines (Special Provisions) Act, 2015 and the Mines and
Minerals (Development and Regulation) Act, 1957, has been initiated.
 "A discussion paper containing the draft methodology and key bidding terms and conditions on the auction of coal mines for sale of coal has already been uploaded on the website of Ministry of Coal," it said adding that in this regard, "roundtable meetings for stakeholders' consultation" are scheduled on January 28 and 29, 2020.
Earlier, this month the government had said that it is initiating the process of coal auctions and the first round of sale of blocks under commercial mining is proposed to be launched in the ongoing fiscal. 
The announcement came days after the government approved an ordinance to ease coal mining laws that will see more local and global players enter the Indian coal sector.
A company or a joint venture company incorporated in India is eligible to participate in commercial coal auctions, the coal ministry had said in a statement.
"Moving ahead after the recent amendments in MMDR Act 1957 and the CMSP Act 2015, the Ministry of Coal is initiating the process for auction of coal mines for sale of coal. Expected to be held in multiple tranches, the first tranche is proposed to be launched in the current financial year," the government said said.
The bidders would be required to bid for a percentage share of revenue payable to the government. The floor price shall be four per cent of the revenue share, the coal ministry notice said.
The government has released a list of 74 mines which it plans to auction under commercial mining.
The ministry had said it has urged interested stakeholders to view the discussion paper and the mine specific details and submit their views/suggestions, indicate their preferences for the mines to be considered for auction under the first tranche. SID MKJ

Consultative meetings with stakeholders to discuss methodology for commercial coal mining on Jan 28-29

New Delhi, Feb 23 () Companies including Tata Steel, JSW Steel and Adani Power among others have requested the government to ensure that the blocks proposed to be auctioned for commercial coal mining should have prior-environmental clearance, so that issues like 'inviolate areas' does not crop up during the development of these blocks. Inviolate areas are sights of significance for conservation of biodiversity (flora and fauna) and forest types that are unique and ecologically important. In the stakeholders' meeting held last month to discuss methodology for commercial coal mining, the participants made some general observations and requested that "the mines may be cleared from the environmental angle so that issues like safety zones, inviolate areas may not crop up later during development of mines," a source said. Some prominent players who participated in the meeting were Tata Steel, JSW Steel, Adani Power, JSPL, Hindalco and GMR Power among others. During the meeting, the stakeholders also requested that sufficient large mines should be earmarked for the industry, instead of numerous small mines, the source said. The participants were also of the view that the "terms and conditions are liberal and conform to the government's intentions of opening up the Indian coal sector," the source added. The government had called meetings with various stakeholders to discuss the draft methodology as well as key bidding terms and conditions for auction of coal mines for commercial mining. Earlier, the government had said that it is initiating the process of coal auctions and the first round of sale of blocks under commercial mining is proposed to be launched in the ongoing fiscal. The announcement came days after the government approved an ordinance to ease coal mining laws that will see more local and global players enter the Indian coal sector. A company or a joint venture company incorporated in India is eligible to participate in commercial coal auctions, the coal ministry had said. "Moving ahead after the recent amendments in MMDR Act 1957 and the CMSP Act 2015, the Ministry of Coal is initiating the process for auction of coal mines for sale of coal. Expected to be held in multiple tranches, the first tranche is proposed to be launched in the current financial year," the government had said. The bidders would be required to bid for a percentage share of revenue payable to the government. The floor price shall be four per cent of the revenue share, the coal ministry notice had said. The government has released a list of 74 mines which it plans to auction under commercial mining. The ministry had said it has urged interested stakeholders to view the discussion paper and the mine specific details and submit their views/ suggestions, indicating their preferences for the mines to be considered for auction under the first tranche. SID DRR

Blocks for commercial coal mining should be pre-cleared from environmental angle: Cos tell Govt

New Delhi, Dec 11 () Six of the seven coal producing subsidiaries of the world's largest miner CIL did not devise a policy as mandated by the environment ministry, according to a CAG report tabled in Parliament on Wednesday.
 "Coal India Ltd (CIL) amended its original Corporate Environment Policy (CEP) and formulated a comprehensive Environment Policy only in March, 2012, followed by a revised policy in December 2018.
 "However, six out seven coal producing subsidiaries of CIL did not formulate a policy as mandated by MoEF&amp;CC (Ministry of Environment, Forest and Climate Change) which stipulated that a well laid down environment policy duly approved by the Board of Directors of the subsidiaries needs to be in place," the report by the Comptroller and Auditor General of India (CAG) said.
 Further, guidelines containing the responsibility and delegation at different levels in environment discipline were formulated by CIL, but the same were not dovetailed in their operating manual by the subsidiaries, according to the CAG report on 'Assessment of Environment Impact due to Mining Activities and its Mitigation in Coal India Ltd and its Subsidiaries'.
 CAG further said the pollutants exceeded the limits prescribed by the Bureau of Indian Standards (BIS) in eight mines across three subsidiaries of CIL.
 "Further during 2013-18, 62 lakh kilo-litre (KL) of untreated water was discharged to nearby water bodies by Lakhanpur and Basundhara (W) mines of MCL thereby contaminating ground water," it said.
 Coal India arms CCL, BCCL and SECL continued to use ground water for their mining operations without obtaining no objection certificate from Central Ground Water Authority. The subsidiaries did not install sewage treatment plant at the residential colonies of the collieries, thereby contaminating the ground water.
 "Due to absence of mechanical brooming/industrial cleaner in Piparwar OCM of CCL, the spillage from overloaded truck/dumpers accumulated along the sides of the bridge of Safi river, was not cleaned periodically," it said.
 These eventually drained into the river, thereby contaminating the water. Further, the rejects of Kathara washery of CCL were found to be contaminating the Damodar river. SID ABM

Six CIL arms did not formulate policy as mandated by environment ministry: CAG

NEW DELHI: Keen to revive infrastructure development, <keyword id="71" type="POSITION" weightage="20" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> has convened a meeting of bank chiefs next week to address <keyword id="6357455" type="EVENT" weightage="20" keywordseo="Funding">funding</keyword> constraints of developers and also seek inputs from the financial sector on how to bridge the deficit by constructing more power plants, roads, ports and airports. 
 
A key concern in the government is the absence of interest from private developers as several large groups with interest in infrastructure are saddled with high levels of debt and have opted out of projects. In fact, the absence of interest, especially in road construction, was even discussed during a recent cabinet meeting, said sources privy to the deliberations. 
 
Sources said the PM's meeting with bankers is likely to be held on August 13 and government departments have been asked to identify issues for which solutions are needed. 
 Government officials said a boost to the road sector is seen easier, considering its smaller construction period, compared to power projects and ports, which involve a series of approvals. A meeting by PM to address the infrastructure bottlenecks has been rare in recent years and is expected to signal the <keyword id="272141" type="ORGANIZATION" weightage="20" keywordseo="Modi-administration">Modi administration</keyword>'s resolve to fill the huge gap in the sector. 
 
Already, key ministers holding infrastructure portfolios have held several rounds of meetings with private players to identify issues relating institutional financing. The PMO has met infrastructure sector developers, who have suggested various options including amendments to the land acquisition law and allowing of renegotiation of public-private-participation contracts 
 
. They had also said that despite the steps announced by the government in the Budget, funding for infrastructure sector remains a challenge, especially as lenders have hit the exposure ceiling. Sources said companies in sectors such as roads are finding it difficult to arrange money to work on projects. 
 Road transport and highways minister <keyword id="26680" type="PERSON" weightage="20" keywordseo="Nitin-gadkari">Nitin Gadkari</keyword> and power and coal minister Piyush Goyal have also held separate meetings with lenders to find ways to get projects going. In fact, based on the deliberations, the <keyword id="47209" type="ORGANIZATION" weightage="20" keywordseo="Finance-Ministry">finance ministry</keyword> has suggested two asset reconstruction companies, one dedicated for roads and another one for power. Sources told TOI that SBI Capital Markets has been tasked with preparing a blueprint, which will be discussed with lenders shortly.

PM Calls Bankers To Push Infrastructure Projects

New Delhi, Feb 4 () The National Company Law Appellate Tribunal (NCLAT) on Tuesday reserved its order over a batch of petitions over Bhushan Power and Steel's sale to JSW Steel under the insolvency process.An NCLAT bench headed by Justice S J Mukhopadhaya concluded its hearing as arguments in all seven petitions, including JSW Steel and former promoters of Bhushan Power and Steel Ltd (BPSL), are over.During the proceedings, the Enforcement Directorate said it had registered Enforcement Case Information Report (ECIR) under Prevention of Money Laundering Act (PMLA) on April 23, 2019, while the resolution plan was approved on September 5, 2019.The Enforcement Directorate, which is investigating alleged fraud committed by the debt-laden firm's previous management, had attached the assets of BPSL on October 10, 2019, which it believes to be from proceeds of crime.In its affidavit filed before the NCLAT, the Enforcement Directorate has opposed JSW Steel's immunity in the BPSL insolvency case.The directorate has said a recent amendment in Insolvency and Bankruptcy Code (IBC) would not apply on the JSW Steel-BPSL deal as it was approved last year, before the amendment came into force.Moreover, it has also said that promoters of JSW and BPSL are related parties as they had a joint venture for a coal block.Earlier, the NCLAT had on January 13 asked the agencies to file their reply affidavits stating whether after insertion of Section 32A into the IBC last month, JSW Steel has immunity from the alleged fraud committed by the previous BPSL management.The government had last month amended the IBC and inserted Section 32A, which mandates that once management or control of a debt-ridden company changes after the completion of the corporate insolvency resolution process, it would not be liable for any offences committed prior to the commencement of the insolvency resolution process.The changes were made after the ED and the Ministry of Corporate Affairs were at loggerheads over the attachment of the assets of BPSL by the former over the money allegedly siphoned off by the erstwhile promoters of BPSL, which is currently going through the insolvency resolution process.On October 10, the ED had attached assets worth over Rs 4,025 crore of debt-ridden BPSL in connection with its money laundering probe linked to an alleged bank loan fraud by its former promoters.JSW Steel, which has emerged as a successful bidder for BPSL with its bid of Rs 19,700 crore, filed an appeal against the ED's move before the NCLAT, which had on October 14 directed that the assets be immediately released in favour of the resolution professional of the debt-ridden firm.While the ED is of the opinion that it can attach the property of BPSL under the Prevention of Money Laundering Act, the MCA has been maintaining that the ED cannot do so as proceedings under the Insolvency and Bankruptcy Code are on. KRH BAL

NCLAT reserves order on JSW Steel's Bhushan Power buyout

New Delhi, Jan 23 () The National Company Law Appellate Tribunal (NCLAT) on Thursday adjourned till January 31 its hearing on Bhushan Power and Steel Ltd's sale to JSW Steel under the insolvency process.
 The appellate tribunal has given around one week more to investigative agencies to file an affidavit clarifying whether prosecution against Bhushan Power and Steel Ltd (BPSL) can be dropped once JSW Steel, the successful bidder, takes over the company.
 The Enforcement Directorate (ED) is investigating alleged fraud committed by the debt-laden firm's previous management.
 On January 13, the NCLAT had asked investigative agencies such as the ED, the Serious Fraud Investigation Office and the Central Bureau of Investigation (CBI) to file an affidavit.
 According to sources, only ED has filed its reply and has opposed JSW Steel's immunity in the BPSL insolvency case.
 The ED has said a recent amendment in IBC would not apply to the JSW Steel-BPSL deal as it was approved last year, before the amendment came into force.
 Moreover, it has also hinted that promoters of JSW and BPSL are related parties as they had a joint venture for a coal block.
 A three-member NCLAT Bench, headed by Chairperson Justice S J Mukhopadhaya, had on January 13 asked the agencies to file their reply affidavits stating whether after insertion of Section 32A into the IBC last month, JSW Steel has immunity from the alleged fraud committed by the previous BPSL management.
 The government had last month amended the IBC and inserted Section 32A, which mandates that once management or control of a debt-ridden company changes after the completion of the corporate insolvency resolution process (CIRP), it would not be liable for any offences committed prior to the commencement of the insolvency resolution process.
 The changes were made after the ED and the Ministry of Corporate Affairs (MCA) were at loggerheads over the attachment of the assets of BPSL by the former over the money allegedly siphoned off by the erstwhile promoters of BPSL, which is currently going through the insolvency resolution process.
 On October 10, the ED had attached assets worth over Rs 4,025 crore of debt-ridden BPSL in connection with its money laundering probe linked to an alleged bank loan fraud by its former promoters of BPSL.
 JSW Steel, which has emerged as a successful bidder for BPSL with its bid of Rs 19,700 crore, filed an appeal against the ED's move before the NCLAT, which had on October 14 directed that the assets be immediately released in favour of the resolution professional of the debt-ridden firm.
 While the ED is of the opinion that it can attach the property of BPSL under the Prevention of Money Laundering Act (PMLA), the MCA has been maintaining that the ED cannot do so as proceedings under the Insolvency and Bankruptcy Code are on.
 On October 25, the NCLAT had asked both organisations, which are currently headed by Finance and Corporate Affairs Minister Nirmala Sitharaman, to settle the matter adding that there was no question of amendment of laws.
 On this, the ED filed an affidavit before the NCLAT questioning its jurisdiction.
 In the said affidavit, the ED told the appellate tribunal that it has no jurisdiction over the properties attached by the agency under the PMLA and asked it to vacate its earlier order and dismiss the appeal filed by JSW Steel.
 The validity of the attachment could be examined by an adjudicating authority only under the PMLA and, hence, the NCLAT should vacate its order passed on October 14, directing it to release the assets of BPSL, the ED told the NCLAT. KRH HRS

NCLAT defers hearing on JSW Steel's Bhushan Power buyout till Jan 31

New Delhi, Dec 19 () Trade unions urged the government to provide minimum wage of Rs 21,000, minimum pension of Rs 6,000 under Employees' Pension Scheme and tax exemption on annual income of up to Rs 10 lakh in a pre-budget meeting with Finance Minister Nirmala Sitharaman on Thursday.
The unions have also raised concerns over rising unemployment in the country, saying "employment generation has nose-dived in recent period".
During the meeting, they suggested that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
They demanded that all vacant sanctioned posts in various government departments, including railways, PSUs and autonomous institutions, should be filled through fresh recruitment.
They also suggested the finance minister that ban on creation of new positions and mandatory reduction of government posts should be lifted.
They noted that denial of level playing field to many PSUs ( BSNL, MTNL, ITI etc) had put thousands of jobs in jeopardy.
The unions also pointed out that the merger of BSNL-MTNL and voluntary retirement (which is actually forced retirement) of almost 79,000 workers is just opposed to the idea of job creation.
Lodging their protest against fixed term employment (FTE), the unions said the provision of FTE should be done away with, and concerned notification should be rescinded forthwith.
They also raised the issue of prise rise saying that the government should ban speculative forward trading in essential commodities and take steps to curtail hoardings along with strengthening public distribution system. 
On disinvestments and strategic sale of public sector units, they said that budgetary support should be provided for the revival of potentially viable sick PSUs.
It also suggested that the finance minister to refrain from strategic sale of viable PSUs in core sectors like steel, coal, mining, heavy engineering, pharmaceuticals, dredging, civil aviation, financial institution, among others.
Under the strategic sale, the government becomes minority stakeholder by reducing its share below 50 per cent of total equity.
The union have asked to extend the rural employment guarantee scheme MGNREGA to urban areas also and enhance minimum employment guarantee to 200 days in a year.
They also lodged protest against foreign direct investment in crucial sectors, saying FDI should not be allowed in railways, defence production, financial sector, retail trade etc.
Trade unions also suggested to stop the labour law amendments that curtail the basic and trade union rights of workers and provide unhindered 'hire &amp; fire' facilities to employers.
They also demanded that the threshold limit for coverage of establishments under the retirement fund body EPFO should be reduced to 10 workers from 20 at present.
Gratuity should be calculated on 30 days wages instead of 15 days of wages per completed year of service without any ceiling, they said.
The government should not make Aadhaar linking mandatory, the unions added.
On the income tax exemption, they urged that the ceiling for income tax for salaried persons and pensioners should be raised to Rs 10 lakh per year.
Besides, they also demanded that income tax ceiling for senior citizens should be raised to Rs 8 lakh.
All perks and fringe benefits like housing, medical and education facilities and running allowances in railways should be exempted from income tax net totally, they said.
"During the course of meeting, representatives of Trade Unions and Labour Organisations shared their views and suggestions regarding labour and employment issues. Discussions were held on skilling, re-skilling and up-skilling of existing labour force. Quality of job creation and ensuring minimum wages of workers were discussed," a finance ministry statement said.
It also stated that during the meeting, representatives of trade unions and labour organisations shared their views and suggestions regarding job creation, labour concerns and quality of employment issues.
They also emphasised quality of job creation and ensuring minimum wages of workers in detail besides the need for streamlining various schemes to have better results, it added.
Along with the finance minister, the meeting was attended by Anurag Singh, Thakur, Minister of State for Finance &amp; Corporate Affairs, Rajeev Kumar and top officials of labour and finance ministries. KKS BAL

TUs urges FM to hike income tax ceiling, minimum wages, pension

<keyword id="71" type="POSITION" weightage="20" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>, in an interview to ANI, said the opposition alleging that his government is a 'suit-boot ki sarkaar' is definitely better and more acceptable than being labelled a 'suitcase' (ki sarkaar), and satirically added, that after ruling for sixty years, the <keyword id="1575" type="ORGANIZATION" weightage="20" keywordseo="Congress">Congress</keyword> has suddenly remembered the poor. 

	Excerpts:
 

	1. In a scale of 1-10, how would you grade your government?
 

	It is for the people of this country to grade and evaluate us. How can I take away their right? I have presented my report card to the country. Recently, media has published the findings of some surveys. You would already have seen them. I can only say that we have laid a solid foundation on which the people can rate us.
 

	2. You came in with the promise of 'Acche Din.' Have you been able to meet the goals that you set for yourself in the first year of the government?
 

	Yes. I am fully satisfied with the work that we have done. The most satisfying part of this year is that we have lived up to the promise that our intentions will be pure and our actions will be driven by long-term national interest. Recall the situation one year ago. Massive corruption at various levels of Government gave rise to scams on a regular basis. Our precious natural resources were going into the hands of a chosen few. In contrast, there are neither any charges of corruption against my Government nor any scandals. Corruption was seen as the biggest problem. We have given a clean, transparent and efficient Government. Burey Dino Ki Vidayee Hui hai. (Bad days are over). Is this not Acche Din for the country?
 

	3. What has been the single big success in the past year? 
 

	The achievements and successes of my government are numerous. However, I know that the success of a government's journey lies in reaching the last man. Therefore, our efforts were directed towards the poor and marginalized. We have also paid special attention to remote corners of the country. Our objective is to transform quality of life, infrastructure and services. We have worked simultaneously on all fronts which bring a smile on the face of the common man. I can give you some examples. From controlling food prices to enhancing farm productivity; improving Railways to strengthening Roads; generating electricity to its 24x7 availability; building school toilets to setting up IITs, IIMs and AIIMS; building houses for the homeless to upgrading our heritage cities; cleaning surroundings to bridging the digital divide; making world class products to skilling and employment generation; strengthening the banking system to funding the unfunded; ensuring labour welfare to providing social security to common man; rejuvenating rivers to irrigating fields; from enhancing co-operation with States to deepening foreign relations; we have worked at an energetic pace and with innovative spirit. 
 Bringing back black money was a major electoral promise, but then your party president, <keyword id="6355521" type="PERSON" weightage="20" keywordseo="Amit-Shah">Amit Shah</keyword> gave the word 'jumla' to it and Arun Shourie criticized the procedures adopted by the finance ministry. How committed is your government in bringing back black money to India? 

	My Government is fully committed on the issue of Black Money. We want to crack down severely on tax evasion and black money. I had taken up this issue with world leaders during the G-20 summit. In our very first cabinet meeting, we formed an SIT. Then, we presented a new legislation in Parliament which is very stringent. We want to make it more difficult to evade taxes and siphon money abroad. We are also aggressively pursuing cases against those who have stashed funds illegally in foreign banks. Recently the names of some such persons have been revealed. We are also trying to move towards cashless transactions. We want to make maximum use of ICT in our tax administration.
 

	At the same time, we want to remove the discretion which causes corruption and generation of Black Money. Hence, we promulgated ordinances in sectors like coal and mines. It has proved to be a good step. We have generated Rs. 3.30 lakh crore for the country so far through transparent auction of some coal mines. Similar is the case with auction of spectrum. I can say that if your intentions are noble, you are sure to get success and required support.
 

	5. Key bills like the Land Acquisition Bill has got stiff opposition from the opposition. They have been able to create doubts about the government's intention. What do you have to say? 
 

	Opposition to our Land Bill is totally unjustified and unfortunate. We have not made any changes for private industry. Moreover, if you have money, you don't need a Land Acquisition Act to accumulate land. Some individuals have done so in Rajasthan, Haryana, Shimla, Delhi etc. Land acquisition becomes necessary for government-driven strategic and development activities, especially in undeveloped areas. 
 

	This too is done mostly by State Governments. We have made changes only in response to demands of the States. The benefits of these changes will also accrue to the rural poor in terms of irrigation, housing, electrification, as well as better physical and social infrastructure.
 
 

	In this country, the Land Acquisition Act was almost 120 years old. The Congress-led Governments used the same Act after independence. Suddenly, before the last Parliamentary elections, the Congress went to another extreme by legislating an Act which is neither in the interest of farmers nor in the interest of the country's development. 
 

	Now, they are not even ready to sit and discuss. We believe in dialogue with all political parties. I have personally appealed in Parliament that we are ready to open a dialogue with political parties and consider their suggestions. I hope that the parties will cooperate on issues of larger national importance without getting into political calculations. 
 

	6. How are you going to convince the farmers of this country that you mean well?
 

	The proposed Land Acquisition Bill focuses on benefitting the farmer and balancing the long-term interests of the nation. The world is changing fast. Even farmers need canals to irrigate, roads to transfer products from farms to markets. They need hospitals, schools and houses. Farmers want modern amenities in their vicinity and jobs in formal sectors for their sons and daughters. I have always believed that if we want inclusive development, we need amenities. We need to match the development of such amenities with agricultural growth. This is what the Bill strives to do while safeguarding the interests of farmers. Our amendments only aim to do away with the bureaucratic bottlenecks in the 2013 Act. I am sure the farmers of this country will understand where their real welfare lies.
 

	7. Agriculture is in distress in the country. To a large extent the problem is endemic and decades of mismanagement have resulted in the present situation but how does your government plan to stem the tide of farmer suicides and farming stress?
 
 The root causes of the problem find mention in your question itself. This is a very important issue and the Government is concerned about it. We have responded to the recent agrarian crisis with alacrity. We have undertaken several reforms. The <keyword id="6362177" type="ORGANIZATION" weightage="20" keywordseo="union-government">Union Government</keyword> has enhanced the relief norms for compensation against crop loss by 50%. 

	The limit of minimum crop damage, for grant of compensation, has been reduced from 50% to 33%. Norms have been relaxed to allow procurement of damaged food grains at MSP rates. The target of agricultural credit has been enhanced in our two consecutive budgets. 
 

	But as you said, the problem in agriculture is endemic. Nothing much was done for six long decades. But we have started long-term steps for the farm sector. To address the issue of access to irrigation for every farm, and efficient utilization of water, the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) has been started. Blue Revolution which aims to improve production and productivity in the fisheries sector is also an action point. We have launched the soil health card scheme. The price stabilization fund with a corpus of Rs. 500 crores has also been set up for perishable commodities. Rashtriya Gokul Mission has been commenced with the objective of conserving and developing indigenous cattle breeds. We have made honest and sincere efforts for rural development. I have recently launched the Kisan Channel for giving timely information to farmers on inputs and markets. In the coming days, I would like to see more focused action on increasing Farm Productivity; Rural Industrialization; Skill Development in rural areas and rural trades, and faster Investments in Rural Infrastructure including cold chain.
 

	8. The opposition has termed your government as suit boot ki sarkar. What is your take on this allegation? 
 

	Suit-boot is definitely more acceptable than suitcase. After ruling for sixty years, the Congress has suddenly remembered the poor. People of this country have suffered and remained poor due to shortsighted policies of the Congress. Many countries of the world have surpassed us on all accounts including poverty removal. Congress did incremental work so as to keep the issue relevant for next election. Did the coal and spectrum scandals or the CWG fiasco benefit the poor? Everyone knows who were their beneficiaries - some chosen industrialists and contractors. The result of Congress's politics and governance of sixty years is that poverty is still our biggest challenge. One-fourth of the families are without shelter. Health, education, water, electricity and roads are even bigger unrealised dreams for a large number of citizens of this country. You should ask them- If you were pro-poor, why does poverty still exist in India?"
 

	9. Opposition says that your government is pro-industrialists.
 

	Those who gave away precious natural resources like coal and spectrum to their favourite industrialists have no right to say this. We are working for the common man of the country. 
 
 
 
 

	We implemented the Jan Dhan scheme and opened more than 14 crore bank accounts for financial inclusion. Earlier also, there were banks, as well as people without bank accounts. What did they do all these years?
 

	The so called pro-poor have been just repeating that there is leakage in subsidy. We used technology to ensure that LPG subsidy reaches the targeted person directly; We have launched MUDRA Bank for financing 6 crore small vendors and businesses 61% of whom are SCs, STs, OBCs and Minorities; We have launched the Pradhan Mantri Krishi Sinchai Yojana which the Congress did not think of in sixty years; We have planned to see that by 2022, no family remains without a roof over its head; The Soil Health Card scheme has been launched to enhance farm productivity and reduce expenses, thereby enhancing the farmer's income. 
 

	We have come out with a comprehensive social security scheme for the poor and marginalised, old and those with low income levels; Swachh Bharat Mission has been started to see that health and hygiene issues of the poor do not affect the working capacity and output of the poor and labourers; Railways, on which the common man travels, is being changed for the better.
 

	We have set up the Skill Development Ministry to enhance employability of the youth to whom we are committed to provide jobs through initiatives like 'Make in India'. In the past, the country had been led into an economy of jobless growth.
 

	We provided for reservation of women in the police forces of Union Territories. This was done even when there were no elections around the corner. 
 

	Through the regime of coal auction that we have put in place, more than Rs. three lakh crore have already been generated for the less-developed states of India. This money will be used for the poor of those states.
 
 These are just a few examples. Why were these things not done in the past sixty years. Who prevented them? Their worry is not that we are not pro-poor. Their worry is that they are being exposed as not being pro-poor. People are asking them: "If <keyword id="6360789" type="ORGANIZATION" weightage="20" keywordseo="Modi-Government">Modi Government</keyword> can think and do this in six to nine months, why could you not think and do it in sixty years." 

	10. You have travelled to 17 countries in 12 months...something that nobody expected you to do as you were seen as a novice on foreign policy matters. But you seem to enjoy running the country's foreign policy. Any comments? 
 

	Foreign engagements are international obligations on the part of the Prime Minister. All Prime Ministers have to do this. Moreover, this is an integrated world. We have to attend international, multilateral and bilateral summits, and build ties with our neighbours and other nations. Our foreign policy is mature and there is a full-fledged mechanism to pursue it. I have only added an element of dynamism to it. We have strived to strongly further our economic cooperation in the Asia-Pacific Region. We have endeavoured to nurture new economic partnerships and tap reserves of energy, minerals, technology and finance from major economies.
 
 11. In real terms, do you see that the Chinese will actually deliver on the financial pledge they have done, that the US will open up its markets for India, that Pakistan will give up its anti-India agenda? That our smaller neighbours will stop seeing us as a bully? Yes, I am sure that the commitments and agreements will be implemented. We have received a commitment from the Government of <keyword id="6355311" type="COUNTRY" weightage="20" keywordseo="Japan">Japan</keyword> for facilitating public and private funding of 3.5 trillion Yen - or approximately $35 billion dollars - over the next five years; there are agreements with China on two industrial parks and intended investments of 20 billion US dollars; there are investment plans of about 42 billion U.S. dollars from U.S. companies over the next five years. <keyword id="6358826" type="COUNTRY" weightage="20" keywordseo="Russia">Russia</keyword> has proposed to manufacture helicopters in India. With Australia and Canada, we have signed civil nuclear cooperation agreements, and other agreements to strengthen our energy security. With the United States, we have moved forward in implementation of the civil nuclear agreement and signed a significant partnership agreement to use renewable energy for rapidly expanding rural access to energy. There has been good response from financial institutions, including pension funds from Korea, Canada, Australia and the US. There is a strong support in all major economies for our "Make in India" programme. 

	In the neighbourhood, there has been forward movement on the 5600 MW Pancheshwar project in Nepal, that was stuck for the last 25 years. Similarly, with Bangladesh we have settled the land boundary issue. We are working with a spirit of mutual benefit. There is no question of bullying anyone. Our recent help to Nepal during the natural calamity shows that our approach is brotherly. With Pakistan too, we will pursue our long-standing approach. We will continue our efforts to advance cooperation and connectivity, without compromising our national security. 
 

	12. If we were to return to domestic issues, you have come for criticism from many for not being able to reign in vitriolic elements in your party who have made disparaging remarks against minorities. What do you say? 
 

	Our Constitution guarantees religious freedom to every citizen and that is not negotiable. The tradition of welcoming, respecting and honouring all faiths is as old as India itself. As Swami Vivekananda said: We believe not only in universal toleration, but we accept all religions as true. This principle of equal respect and treatment for all faiths has been a part of India's ethos for thousands of years. And that is how it became integral to the Constitution of India. Our Constitution did not evolve in a vacuum. It has roots in the ancient cultural traditions of India. I expect that everyone will understand and respect this.
 

	13. Why do some elements in your party feel emboldened to say awful things even though they ought to know that a Prime Minister of India cannot really support bigots in his cabinet? 
 

	I have said this before and I say it again: any discrimination or violence against any community will not be tolerated. My position on this is very clear: Sab ka saath, sab ka vikas. We stand for each of the 1.25 billion Indians regardless of caste or creed and we will work for the progress of each of them. Every faith in our country has equal rights; it is equal not only before the law but also before society. 

	 
	As published in ET.

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