Industrialist Ratan Tata has reportedly written to the prime minister cribbing about delays in implementing big buck projects. In his capacity as the chair of the government’s investment commission he says over us $50 billion is tied up because of delays in allocating land and resources.
Chhattisgarh announced a proposed investment of more than Rs 1,77,000 crore in the state. Until October 2008, it had signed over a hundred mous with companies like Jindals, Tata Steel and Essar.
Our country is in the throes of rapid industrialisation, which is often accompanied with massive environmental and social burdens, principally borne by communities living in the vicinity of project sites. Monitoring tools like Environment Impact Assessment (EIA), therefore, assume great significance in ensuring sound economic development without compromising on environmental and social costs.