Expressing reservations about the central government allowing 100% foreign direct investment (FDI) in the coal sector, West Bengal Chief Minister Mamata Banerjee has written to Prime Minister Narendra Modi requesting him to reconsider the decision.
“I express my serious reservation on this policy announcement on cogent grounds. This policy can neither bring foreign direct investments nor can it bring technologies or knowhow which we are unable to access today,” Ms. Banerjee wrote in her letter to Mr. Modi on Thursday night.
“The recent trend and empirical evidences clearly showcase the interest of global investors more in renewable energy projects as compared to the coal mining projects. In fact, research suggests that about 100 global financial institutions have divested their thermal coal investments. Therefore, FDI in thermal coal is a far cry,” she said.
The Chief Minister also described the move of the Coal Ministry to shift the desk offices of four of its subsidiary companies from the state as an “abrupt decision” and requested the prime minister to intervene in the matter.
“I would, therefore, request you to kindly reconsider the decision of allowing 100% FDI in coal sector and also strongly urge your kind intervention for advising the ministry of coal not to go ahead with the decision of Coal India Ltd to wind up their subordinate offices from Kolkata,” she added.
You have reached your limit for free articles this month.
To get full access, please subscribe.
Already have an account ? Sign in
Show Less Plan
Subscription Benefits Include
Today's Paper
Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list.
Faster pages
Move smoothly between articles as our pages load instantly.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Personalised recommendations
A select list of articles that match your interests and tastes.
Briefing
We brief you on the latest and most important developments, three times a day.
*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.
A letter from the Editor
Dear subscriber,
Thank you!
Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.
The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.
We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.
Suresh Nambath
