'NIMBY' vs. 'BANANA' Is There a Way Out?
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Code : GOV0057
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Region : India |
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Introduction: In late 2010, the Government of India (GoI) ordered Vedanta Aluminium Limited (VAL) to stop mining atop the Niyamgiri Hills in the Lanjigarh district of the eastern state of Odisha (formerly known as Orissa). The GoI’s much-awaited decision came in the wake of the report submitted by a four-member committee appointed to look into the matter. While industry experts were of the view that such a decision would hamper India’s growth, which had just begun, the Minister for Environment and Forests, Jairam Ramesh, insisted that he was not against growth. He asserted that the desire to grow should not outpace the desire to conserve and added that he was just attempting to change the mindset of the Indian industry.2 India has seen enormous development on the social and economic fronts in the past few decades and has emerged as one of the largest economies in the world. However, this did not happen overnight. Till the mid-1980s, the license raj3 prevailed in India. This restricted foreign players from entering the Indian market. With economic reforms being initiated in the mid-1980s, many restrictions were lifted. However, actual liberalization started in the 1990s with major policy changes taking place. The new reform model, popularly known as Liberalization, Privatization, and Globalization (LPG) came into being and aimed at making the Indian economy one of the fastest growing and globally competitive ones. These reforms facilitated the entry of foreign players, allowed Foreign Direct Investment (FDI), and also paved the way for joint ventures. |
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