Legal and governance infirmities in the allotment of mineral blocks to private parties

The Commission wishes to point out that extractable mineral resources are severely limited and at the present rates of production, they may not last more than 10-20 years. It is, therefore, necessary that they are conserved to the extent possible by ensuring that the demand for minerals is prudently managed by enhancing their end-use efficiencies, recycling their use to the extent feasible and replacing their use, to the extent possible, by renewable substitutes.

March 14, 2023 0

People’s Commission’s Statement on Privatisation of Rashtriya Ispat Nigam Ltd

The Central Government has put RINL's 6.3 MTPA capacity steel plant at Visakhapatnam (with its subsidiary, Eastern Investment Limited) on the anvil of disinvestment and is planning to issue an expression of interest shortly. It is a part of the sweeping, indiscriminate disinvest programme announced by the Finance Minister in her Budget Speech of 2021 and formally translated into action through DPE's guidelines

March 7, 2023 0

The Adani affair: Collapse of regulatory structures | Statement from People’s Commission

The Hindenburg revelations, which triggered a period of unprecedented volatility in Indian capital markets, pertain to the recent meteoric rise of one of India’s top conglomerates, the Adani Group. At the heart of the issue is how a permissive regulatory regime facilitated this rise.

February 10, 2023 0

Privatisation of public sector banks would run counter to the constitutional obligation of the Govt

In the Budget speech last year, the Finance Minister mentioned that the government would privatise a few PSU banks in due course. There are reports on statements originating from the Ministry that the government would introduce a Bill during the coming monsoon session for enabling it to privatise PSU banks in principle, create provision for outright sale and relax the cap on foreign equity holdings in them. DIPAM is also conducting road shows in the USA to sell IDBI Bank.
In this connection, we wish to caution the government about the legal and other far-reaching implications of privatising any PSU bank.

July 6, 2022 0

Electricity (Amendment) Bill-2022 will have far-reaching impacts on the finances of the States

Press Release Date: 30.06.2022 Prelude The Government of India (GoI), a few years ago, had unilaterally enacted the three farm laws, in addition to introducing a Bill to amend the Electricity Act-2003, without taking the States and the farmers’ association into confidence. Since both the farm laws and the Electricity Bill would adversely affect agriculture... Continue Reading →

June 30, 2022 0

Fertilizer Sector: Crisis demands strengthening domestic production through PSEs

A spurt in global demand for fertilizers after the pandemic from most agrarian countries including US, EU, Brazil, China and India, has already upset the availability and price level of mineral fertilizers all over the world.

June 5, 2022 0

Coal and Power crisis in the country | Press Release

In order to bring out the actual reasons for the colossal failure of the Coal and Power system management and enable corrective action, an independent enquiry should be constituted into the coal crisis that occurred once during 2021, has enveloped the country during the summer of 2022 and is likely to extend into the monsoon.

June 2, 2022 0

PEOPLES’ COMMISSION ON PUBLIC SECTOR AND PUBLIC SERVICES STATEMENT ON LIC IPO

Please refer to our earlier statement on LIC here. Based on the further developments, we are issuing another statement because of the National Importance. First, We wish to reproduce below the prophetic words of Shri C D Deshmukh, the eminent Finance Minister who had the vision to create the LIC in 1956: “The concept of... Continue Reading →

April 27, 2022 0

Statement on LIC IPO

January 21, 2022 Peoples Commission on Public Sector and Public Services Statement on LIC IPO The Finance Minister in her budget speech in 2021 announced disinvestment of government stake in the Life Insurance Corporation of India (LIC). According to news reports, the LIC IPO Prospectus is likely to be issued in early February 2022. It... Continue Reading →

January 21, 2022 0

Demand to Reverse the SBI-Adani Capital Deal

Reserve Bank of India should reverse its policy with regard to allowing Non-Banking Financial Companies (like the Adani Capital) to have tie-ups with Public Sector banks (like the State Bank of India) for co-lending to the farmers and other small borrowers. The undersigned demand an immediate reversal of this arrangement as it will have serious implications for the public.

January 16, 2022 0

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