2.  Food Inflation declined for the fourth week in a row
to a one year low but government remain concerned
over the pace of the decline.
 The food inflation declined to 12.3% but it has
increased when compared to previous year figures
which was 12.59% a year ago

3.  India’s biggest fuel retailer IOC is considering
raising petrol prices by 35 paise per litre this week as
the crude oil prices have gone up.
 If government increases the prices this will be the
third hike in petrol prices since government freed its
pricing on June 26
 IOC decision is expected to be followed by other
state run fuel retailers- Bharat Petroleum Corp and
Hindustan Petroleum Corp

4.  US commerce secretary Garry Locke has criticized
India’s complicated FDI rules and non-tariff trade
restrictions
 Mr. Locke is in favors that the Import Licences,
Standards & Certifications and Local content
requirements are some barriers that foreign
businesses face in India
 However Anand Sharma is in favor that Indian
government had worked much on increasing
transparency, lowering cost with a single FDI Policy

5.  Government plans to ask mining companies to start
paying compensation to project affected people from
the day a mining block is allocated
 As per plans once the project starts making profits.
The displaced families will be provided an annuity
income from the net income.
 The proposal will insure income support till the time
the venture starts to make profits but mining
companies will be allowed to claim these as
expenditure

6.  Orissa government is likely to challenge the Union
ministry of environment & forest’s decision to deny
permission to state owned Orissa Mining
Corporation (OMC) to mine bauxite in the Nyamgiri
hills
 OMC had entered into a JV with Vedanta Aluminum
for mining to deed VAL’s refinery at Nyamgiri. State
government had committed to supply 150 million
tons of bauxite to VAL.

7.  Government is formulating a new strategy to
allocate coal mines setting aside the controversial
move by the environment ministry to categorize
coal-bearing areas in the country as “Go” and “No-
Go” areas for miners.
 This move will prevent confusion over mining
rights given to Power, Steel and Cement sector
companies over coal blocks allocated between 1994
and 2008