So what's the conspiracy here. How come our government became so much nature conscious?
News article about Central government rejecting the mining plans of global company Vedanta Resources in Orissa is on the rounds today. Not just this but also Vedanta's plan for taking over Cairn India, an oil exploring firm in the country, was taken warmly by the Indian stock markets yesterday, rising the price of Cairn by as much as 4%. This acquisition might probably make the CEO of the company, Mr. Anil Agarwal, the richest man in India overtaking Mukesh Ambani. But then the Indian government seems to be worried about the acquisition move as it feels it's going to create an imbalance in the sector!
Thumbs up to the government if it's really worried about the natural resources and the tribal's welfare and all the etc. But honestly it's hard to believe so as coal mines are getting plundered in Bellary (Karnataka) and places alike in India whose legality is a big question mark. One thing is for sure- Vedanta is going to execute their INR40000 Crore plans in Orissa. This litigation is just a political joke for the time being.
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