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Sunil Jain: Continuing to dial disasters
The decade began with the government doing the right thing and auctioning mobile phone licences, but ended with the scandal over its decision to start playing favourites and handing over licences to a chosen few firms at a price that was Rs 50,000 crore less than the market one. The decade began with the government privatising the Delhi Vidyut Board (DVB) in the midst of a huge scandal, since it offered several thousand crore of concessions to two firms, and ended with another scandal over how the winning bidders for the Bangalore airport awarded the major part of the contracts to themselves — and passed on the increased costs to the flying public.

Tata Motors slips owing to Nano cancellations
Tata Motors slipped to a low of Rs 701 and finally settled at Rs 705, down 3.5% from its previous close. The counter witnessed trades of 1.24 million shares as against the two-week daily average traded volumes of 939,906 shares on the BSE.

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25 years on... litany of complaints continues
As governments and NGOs fight on contamination levels, Bhopal gas tragedy victims continue to die a slow death
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Cabinet panel gives reprieve to Gazprom

The Cabinet Committee on Economic Affairs (CCEA) today approved a special dispensation for Gazprom, allowing the operator of an offshore block to carry out additional exploration for 18 months beyond the Phase-III of exploration. - Gazprom granted more time for exploration - ONGC loses Algeria oilfield to Chinese firm - Insiders perform better than outsiders as CEOs: Survey - $400 mn QIP nod for Jet - ITI surges 11% - Power ministry floats Cabinet note to push open access “The penalty amount in lieu of the unfinished work programme of Phase-III exploration, along with the liquidated damages of the extension approved, may be considered in kind, that is, through additional work programme,” a statement released by the government read. The statement said there was no financial expenditure involved on behalf of the government and that “the contractors under the production-sharing contracts have commitments to carry out the exploration work programme, which may lead to discoveries of hydrocarbons.” CCEA also approved $200 million (nearly Rs 910 crore) equity infusion into PepsiCo India Holdings Pvt Ltd within three years. The approval would increase the investment in the company from $455 million to $655 million (nearly Rs 3,000 crore), as recommended by the Foreign Investment Promotion Board. CCEA also approved a Rs 6,000-crore investment for a revised scheme of information and communication technology (ICT) in schools during the current Plan period to enable information technology infrastructure in education. “Around 108,000 government and government-aided secondary and higher secondary schools will be covered in the scheme. The actual expenditure approved by the central government is Rs 6,000 crore, against the required Rs 6,926 crore,” said Human Resource Development (HRD) Minister Kapil Sibal. Around 75 per cent funding for the scheme would be provided by the Centre. In northeastern states, 90 per cent funds will be provided by the central government. The two main objectives of the scheme were ICT-enabled teaching and promoting computer literacy in schools, Sibal said. “This includes dependable power supply, internet connectivity and capacity building of over 1 million teachers using ICT-based tools.” The scheme, launched in 2005, is currently being implemented through state governments and union territories covering over 53,000 schools in the country.


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