India: Modi clears another hurdle

INDIAN Prime Minister Narendra Modi’s plan to attract private investment in mining of coal and other minerals received parliamentary approval last week, his second key legislative win in as many weeks. The Rajya Sabha, the upper house of parliament, where Modi’s ruling Bharatiya Janata Party is in a minority, cleared the new laws after scrutiny by a panel of lawmakers. The two laws seek to bring transparency in mine allocations and reduce bureaucratic discretion. The enactment of the laws will speed up auctioning of coal, iron ore, bauxite and other mining assets. – Bloomberg