Koda effect

At a recent seminar, bankers were discussing the increased GDP and industrial growth numbers. One of them said the increased production from the Reliance Industries Limited (RIL) gas fields was responsible for the hike in the index for minerals and this is what led to the hike in the overall industrial growth numbers.

Another pointed out, somewhat tongue in cheek, that while the RIL impact had taken place in the previous quarter, what we were witnessing was the Koda effect — the large number of mining leases the former Jharkhand chief minister had given out in return for bribes had resulted in a spurt in mining activity.