Endowment funds created through DMFs can protect projects against price fluctuations

Financial Express | Joyita Ghose | April 19, 2019

Endowment funds created through District Mineral Foundations (DMFs) can increase the period for which funds are available and protect projects against price fluctuations.

A recent report of the Parliamentary Standing Committee on coal and steel examines the functioning of District Mineral Foundations (DMFs) and finds that fund utilisation has been much lower than expected. DMFs are district-level institutions that receive a share of mineral revenues and use these to fund projects to improve access to drinking water, healthcare, education, and sanitation, amongst others. The report of the Standing Committee states that only 23% of the total amount collected had been utilised till August 2018. More recent numbers tell a similar story, with approximately 23% of the `245.3 billion collected by DMFs across the country having been utilised till January. Read more

Government has taken steps to ensure central funds reach poor: Narendra Modi

Money Control | April 16, 2019

PM Modi’s statement was a counter to the recent claim by Odisha Chief Minister Naveen Patnaik that the Centre has no sympathy for the farmers of the state.

Prime Minister Narendra Modi on April 16 said his government has taken measures to weed out Congress-aided middlemen to ensure that the entire central funds percolate down to the poor. He also announced a slew of measures for the welfare of farmers and fishermen, if the BJP was voted to power.

Mounting a blistering attack on the Congress, Modi accused it of being a silent spectator to the loot of public money besides being embroiled in multiple controversies and scams before the BJP-led government put brakes on these corrupt practices. “During the Congress era, only 15 paise of a rupee would reach the poor and the rest was swindled by unscrupulous elements. No one bothered to stop it. Now, we have ensured that central funds reach the poor,” Modi said, addressing a rally here in western Odisha. Read more

K’taka mining dependents stage protest at Jantar Mantar

Deccan Herald | April 16, 2019

Mining dependents of Karnataka on Tuesday staged a protest here at Jantar Mantar to press for non-discriminatory practices in iron ore trade in the state and sought immediate action by the Centre in “rescuing their livelihoods from prejudiced policies” prevailing in the state.

“Around 600 people of Karnataka Gani Avalambithara Vedike (KGAV), consisting of iron ore mining dependants from Bellary, Hospet, Chitradurga districts and surrounding mining belt gathered for a protest at Jantar Mantar in New Delhi today,” KGAV, which represents mining dependents, said in a statement. Read more

Mining in Jharkhand threatens locals in their own land

Down To Earth | Srestha Banerjee, Rajeev Ranjan | 10 April 2019

Residents of the state’s mining areas are unemployed and are threatened of being jailed when they ask for work

Our car stopped at the bent of narrow roads through Chotanagra panchayat. As we walked down, a group of 15 people was waiting in Dhobil village gathered by Lakhan Soren, a community volunteer who works for community rights and empowerment in the area. “More will join us soon,” said Soren as we were there to find out the state of mining-affected communities in the area. He pointed towards Dhobil iron ore mines, a little more than a kilometre away where some of the people were working. Read more

Dhanbad DMF funds city infrastructure projects, neglecting mining-affected people

Down to Earth || Chinmayi Shalya, Rajeev Ranjan || 03 April 2019

The district’s latest Rs 307 crore sanctions fail issues of livelihood and healthcare, which are longstanding challenges for the worst-affected mining areas

LED street lighting, renovation of town hall and a multi-crore flyover is most of what Dhanbad district has invested in through a fund meant for mining-affected people and areas.

The latest investments made by Dhanbad under District Mineral Foundation (DMF) show that about 86 per cent of the Rs 307 crore-plus sanctions are for physical infrastructure in the town, having no bearing on the pressing needs of the mining-affected people. This includes a Rs 256 crore flyover, Rs 4 crore for LED street lighting and another Rs 5 crore town hall renovation, as per details available from the state mines department. Read more

1 2 3 17