Skip to main content

Extractive Industries Transparency Initiative


·         .Transparency in the oil,gas and mining sectors is a growing global concern
·         extractive sectors generate $3.5 trillion in annual gross revenues,or around 5% of global GDP
·         Extractive Industries Transparency Initiative (EITI),a standard for reporting and managing revenues from natural resources,is beginning to usher sanity into the sector
·         .It requires extractive companies,including public sector undertakings,to publish what they pay governments fees,taxes,royalty,profit shares,etc.Governments also publish what they receive in revenues from companies
·         EITI is a global,voluntary coalition of governments,companies and civil society
·         An independent audit,in which civil society is a participant,examines both sets of revenue disclosures and looks for discrepancies
·         In 2009,Azerbaijan became the first country to become EITI-compliant.Since then,35 countriesthough not Indiaare following the standard

India is reluctant to sign up
·         It insists the idea of EITI is driven by the West and that India doesnt stand to gain as its New Exploration Licensing Policy (NELP) is quite robust
·         It says EITI serves only the interests of Western oil giants who are finding it difficult to operate in countries with poor governance structures
·         As a result Indian companies are beginning to be equated with the Chinese,who have acquired a despicable record in bribery and corruption in foreign shores
·         EITI process is not a fool-proof mechanism but ,its better than having nothing at all
·         India says An online reporting system is expected to be in place by March 2012
Improvements in EITI
·         There is increasing international pressure on the EITI to go beyond mere revenue flows.Today,the process only tells citizens what revenue has been paid by companies,and doesnt examine whether contracts are fair or whether revenues from minerals and oil & gas lead to the well-being of the citizens.

Comments

Popular posts from this blog

Janani Shishu Suraksha Karyakram

FEATURE H&FW B.   Narzary * Reducing the maternal and infant mortality rate is the key goal feature of the Reproductive and Child Health Programme under the National Rural Health Mission. Several initiatives have been launched by the Ministry of Health & Family Welfare under the Mission including  Janani   Suraksha   Yojana , a key intervention that has resulted in phenomenal growth in institutional deliveries with more than one  crore  women  beneficiaries  annually. JSY was launched to promote institutional deliveries so that skilled attendance at birth is made available  and  mothers and new born babies can be saved from pregnancy related complications and deaths.

NIOS to open study centre at Gaghidh central jail

Jamshedpur : In a boost to increase educational opportunities for inmates of the Gaghidih central jail, the prison administration has joined hands with National Institute of Open Schooling (NIOS). The NIOS regional office has agreed to open study centre in the Gaghidih jail next month. To start with, 30 inmates of the jail will pursue matriculation and senior secondary board examinations through NIOS study centres. "Initially, 30 inmates will pursue their academic career through NIOS and the classes shall begin by July," said jail superintendent Tushar Ranjan Gupta. The state government will bear the study expenses of the inmates. The NIOS will charge about Rs 2,000 from each inmate who seeks to appear in any of the two examinations. The institute will conduct biennial examinations In April and October every year. According to sources, out of the 12-odd CPI (Maoist) rebels who are currently lodged in the jail, a few have expressed their desire to pursue studies

Preamble : Constitution of India : IAS Notes

Pic courtesy : http://hyderabad-india-online.com/ Preamble - Bare -  http://www.ankitrajvanshi.in/2012/11/preamble-bare.html "Preamble is a microcosm of the constitution and is a key to the constitution." Preamble is not enforceable Words socialist, secular and integrity  was added by the 42nd constitutional amendment of 1976 Preambular values Sovereignity : Sovereignity is a characteristic of the government. It means that there is no authority above the government either outside or inside the country. ** Preamble of India establishes popular sovereignity and not parliamentary sovereignity. Socialist : Socialism means ownership of productive forces by the government so that they benefit people equitably. Secular : Secularism means separation of religion from politics. Religion is private while politics is public. Democracy : Democracy means rule by the people. Republic : Republic is a political order in which the supreme power lies in a body of citizens.