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Business Standard

  • Shut down Orissa plant, Bhushan told

    The Orissa Pollution Control Board (OPCB) on Monday issued a closure notice to Bhushan Power and Steel (BPSL) for not making arrangements for the suitable disposal of solid waste. BPSL has been asked to stop all production till further orders, failing which stringent penal proceedings would be initiated against the company. BPSL currently produces 1.2 million tonnes of steel, which would subsequently be raised to 2.2 million tonnes through expansion drives.

  • Bt cotton acreage increases 63%

    Genetically modified Bt Cotton acreage in the country rose 63 per cent to 6.2 million hectares in 2007, International Service for the Acquisition of Agri-biotech Applications said in its latest global report. India's total cotton acreage stood at 9.4 million hectares in 2007. "India's Bt cotton story is remarkable,' ISAAA head Clive James said in a release. The global agency is engaged in the promotion of biotech crops. For the third consecutive year, the country experienced the highest rise in Bt cotton acreage in the world.

  • Fisheries sector facing worst ever crisis

    In a memorandum submitted to UPA chairperson Sonia Gandhi, the Seafood Exporters Association of India (SEAI) has expressed serious concern over the plight of the marine exports industry in the country. In the memorandum, the association has said that the fisheries sector is facing the biggest ever crisis in its history mainly because of the rupee appreciating more than 15 per cent in the last one year.

  • Coke gets CSR award amidst protests

    Coca Cola India earned itself a drop of hard-earned joy this week for its corporate social responsibility initiatives in the form of the Golden Peacock award for CSR for 2008. But the award which cites its work in water management comes just a few weeks after it had received advice from The Energy Research Institute or TERI run by R K Pachauri to shut down its bottling plant in Kaladera, Nabipur and Mehdiganj in Rajasthan saying that these were bringing down ground water levels at an alarming scale.

  • CRY of help for erosion victims

    Here is an existential dilemma. They belonged to Bengal till they woke up one morning to find themselves in Jharkhand. Now both the states won't have them. Bengal won't have them because what was their village has submerged under the sea and they have scampered on to chars or new land emerging out of the sea which fall in Jharkhand. Jharkhand won't have them since they have papers that show them belonging to Bengal. And the chars of course will remain without any civic amenities as they are not revenue villages as yet.

  • Bad idea

    The reported move by the government, to prepare for a virtually across-the-board waiver of bad or rescheduled agricultural loans, is imprudent in every way. Most importantly, it may end up crippling the agricultural credit system, which is what happened once earlier with the then deputy prime minister, Devi Lal's, loan waiver of 1990. The cooperative credit sector has still not fully recovered from that blow. Apart from turning cooperative credit banks sick, it made even the commercial banking sector wary of disbursing crop loans for a long time after that ill-conceived move.

  • TVS Motor exploring LPG and CNG two-wheelers

    The alternative fuel fever has caught up with Chennai-based TVS Motor Company, synonymous for

  • Have Rs 1,199? You can own a Nano

    As Tata Motors gears up to launch the world's cheapest car Nano later this year, financing companies, including ICICI Bank, SBI Bank, HDFC Bank and Saraswat Bank, are busy charting out attractive finance schemes to woo the buyers. The Mumbai-based Saraswat Bank is offering a loan of Rs 70,000 at a monthly installment of a mere Rs 1,199 spread comfortably across 84 months or 7 years. The rate of interest is 11-11.5 per cent, which is cheaper than a two wheeler loan. The Nano has already driven these companies to look beyond the two-wheeler market, which has lately shown a huge slowdown.

  • RIL, govt differ on gas exploration norms

    Reliance Industries has accused the petroleum ministry of violating Parliament approved norms for oil and gas exploration in the country by proposing new guidelines that it said reduced operational flexibility. The petroleum ministry has proposed guidelines for "enhancing effectiveness' of Management Committee (MC), which oversees oil and gas exploration in areas or blocks awarded to companies under the landmark New Exploration Licensing Policy (Nelp).

  • Strong and long-armed

    Political heavyweights may be still recovering from the tectonic changes brought about by the Delimitation Commission headed by Justice Kuldip Singh after about six years' labour, but to those who have watched this barrister who came from Chandigarh to be elevated almost immediately to the bench of the Supreme Court in 1988, it was not a surprise.

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