1995 - Ministry of environment grants environment clearance without EIA. TNPCB grants Consent for Establishment without EIA. Construction begins with discarded units out of Australia and US.
SC recommends to revoke the environmental clearance provided and prevent any further clearance from being provided. It directs TNPCB to conduct further investigation.
A day after, MoEF grants environmental clearance to all illegal units
4. 2006 to 2008 - Department of Community Medicine from the Thiruvnelveli medical college begins a study on health standards around the Sterlite plant.
Lot of illness was reported & 80000 people affected.
2009 - MoEF grants Sterlite environmental clearance to expand the copper smelting plant without public consent. A litigation reveals that land allocated for Sterlite
2013 - On March 23, over 5000 people are affected by two bursts of massive toxic gas leak from the plant. On March 29, Madras high court order the plant to close down citing violations of pollution control
This decision is also overturned at the SC While SC agrees that Sterlite had violated pollution prevention acts, it simply fines the company 100 crores[20]. In May the National Green Tribunal rules in favour of the company, allowing reopen
The S&P BSE Sensex has plunged 4,600 points, or by about 12 percent, from its life-time high of 38,989 recorded in August.
Check the thread. You will surely invest more
2 history suggests that the market has always bounced back and made investors richer sooner than later. This is the ideal time to put money into the equity market. We are in the third leg of the correction in the current bull market
3 Indian market have been seeing a sharp sell-off on account of depreciation in rupee and higher crude prices. This negative sentiment was further reinforced by the fear of liquidity crisis to support credit growth following the IL&FS scare
1. “ only 'the perverted Rahul Gandhi school of thinking' can call investment by financial institutions in IL&FS a 'scam' and suggested that the Congress President should take some 'words of wisdom' from a senior party colleague.”
2 “Was it a scam in 1987 when the IL&FS was promoted with the Central Bank of India having 50.5 percent shares and the UTI having 30.5% shares? Was it a scam in 2005 when LIC acquired 15%stake in IL&FS and in March, 2006 when it acquired another 11.10 percent stake in the IL&FS?”
1 One of the two main bidders, keen to acquire embattled Force India Formula One racing team after it went into administration, has claimed that a consortium of 13 Indian banks lost out on estimated 40 million pounds as a result of an "unfair" sales process concluded last month.
2 Russian Uralkali said that by turning down its higher bid for the administrators had denied the extra funds that would have accrued to the shareholder of Force India which is subject to a freezing order issued by the UK's High Court in favour of his 13 creditor Indian banks
Some facts which will force you to think ig GDP is write way to measure economy of country?
One problem with GDP is that it doesn’t take inequality into account — if all the gains from growth flow to the rich, GDP will go up while the average person won’t be any better off.
Another problem people complain about is that GDP doesn’t measure human happiness — if people get sick and are forced to buy more medicine, GDP can go up while the standard of living goes down.