ValkyaEditorial

Tagged “intergenerational-equity”

1 article on intergenerational-equity.

Landmark JudgmentSupreme Court of India

Goa Foundation v. Union of India: lease expiry, inter-generational equity and the Goa Iron Ore Permanent Fund

On 21 April 2014 a three-judge bench of Justices A.K. Patnaik, Surinder Singh Nijjar and Fakkir Mohamed Ibrahim Kalifulla — with Patnaik J. pronouncing judgment — held that every iron-ore and manganese-ore mining lease in Goa had, in its renewed avatar, expired on 22 November 2007; that every mining operation thereafter was illegal; that the State's 'second renewal' orders had no statutory basis; and, drawing on the Justice M.B. Shah Commission Report, translated inter-generational equity into a financial mechanism by capping iron-ore excavation at 20 million MT a year, mandating e-auction of inventorised ores, and constituting the Goan Iron Ore Permanent Fund under Court supervision.

Valkya Editorial··14 min