House panel approves provision in mining bill requiring a miner to disburse an amount equal to the royalty earned by the govt
AParliamentary panel that examined the proposed new Mining Bill has recommended that coal and lignite miners too be asked to share an amount equivalent to the royalty they pay to the government with the project affected people as against the proposed 26% of profit they make.
A clause in the new Bill had proposed that miners of major minerals like iron ore and bauxite contribute an amount equal to royalty towards a “district mineral foundation (DMF)”, and coal and lignite mines part with 26% of profits towards compensating the project affected. The industry is opposed to this proposal, saying that this would, in effect, take mining tax in the country to 69-70%, the highest in the world.
Technology Partners: MimirTech
Links:
[1] http://admin.indiaenvironmentportal.org.in/news/miners-may-have-pay-locals-directly
[2] http://admin.indiaenvironmentportal.org.in/category/author/meera-mohanty
[3] http://admin.indiaenvironmentportal.org.in/category/newspaper/economic-times-new-delhi
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/mining
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/mineral-based-indsutry
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/iron
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/bauxite
[8] http://admin.indiaenvironmentportal.org.in/category/thesaurus/minerals
[9] http://admin.indiaenvironmentportal.org.in/category/thesaurus/land
[10] http://admin.indiaenvironmentportal.org.in/category/thesaurus/coal
[11] http://admin.indiaenvironmentportal.org.in/category/thesaurus/compensation
