Coal, mining, steel: At the core

• Coal Bill 2000 has been pending in the Rajya Sabha due to the Left resistance. Its passage will facilitate private mining of coal

• Coal ministry is undecided on setting up a regulator which is expected to monitor coal prices

•The steel ministry has not re-classified steel as an essential commodity which will reduce the demand-supply mismatch of the alloy, or to cap steel exports

• Proposal to set up a regulator is also gathering dust

• New Mineral Policy up for the coming monsoon session

• Bill to amend the Mineral and Metals Development and Regulation Act is also expected to be tabled

• Impasse over Chiria iron ore mines in Jharkhand persists as both SAIL and ArcelorMittal are eyeing these

Commodities: Caught in the Act

• The amendment to the Forward Contracts Regulation Act (FCRA) has been hanging fire

• It will provide autonomy to the commodity market regulator, Forward Markets Commission (FMC), leading to better regulation

• Before the Forward Contracts (Regulation) Amendment Ordinance, 2008, FMC did not have regulatory powers and authority like the stock market regulator Sebi

• However, the ordinance lapsed in February and the commission is waiting for an autonomous regulatory authority status

Roads: The need for speed

• The amendment to the Forward Contracts Regulation Act (FCRA) has been hanging fire

... contd.