The Economic Times | By Swansy Afonso and Rajesh Kumar Singh | May 28, 2020
District Mineral Foundation funds have nearly Rs 23,800 crore, according to data from mines ministry.
An under-utilized $3.1 billion fund targeted at the poorest in India’s mining belt could prove to be a crucial resource in the country’s fight against the corona virus pandemic. Read more
The Print | May 28, 2020
The District Mineral Foundation funds have nearly Rs 23,800 cr after less than 40% of the amount accumulated over the past five years was spent.
Mumbai/New Delhi: An under-utilized $3.1 billion fund targeted at the poorest in India’s mining belt could prove to be a crucial resource in the South Asian nation’s fight against the coronavirus pandemic. Read more
The Logical Indian Crew | May 26, 2020
The revelations came after an eastern Assam-based environmental activist Rohit Choudhury filed a Righ To Information application into the Tikok coal mining project in the Dehing Patkai Elephant Reserve.
A Right to Information (RTI) application into the Tikok coal mining project in Dehing Patkai Elephant reserve in eastern Assam has revealed that a substantial chunk of “unbroken” forest land has already been mined and cleared. According to a report by The Hindu, the Standing Committee of the Environment Ministry’s National Board of Wildlife (NBWL) had held a discussion on April 7 regarding a proposal for transferring 98.59 hectares of land from the Saleki Proposed Reserve Forest (PRF) for an open-cast coal mining project by North-Easter Coal Field (NECL) which is a unit of Coal India Limited. The meeting was chaired by Union Minister for Environment, Forest and Climate change Prakash Javadekar through a video conference due to the nationwide lockdown. Read more
The Telegraph | May 24, 2020
Overall losses incurred by all state govts combined is estimated to be Rs 4,500-5,000 crore: KPMG
State and central government exchequers are expected to take a hit as lower volume of mineral production would mean lower statutory levy and tax collection.
According to estimates of KPMG, the overall losses incurred by all state governments combined is estimated to be Rs 4,500-5,000 crore and the overall loss for the central government could be around Rs 1,800-2,000 crore. Read more
Brookings | May 21, 2020
The Mines and Minerals (Development and Regulation) Act of 1957 regulates the mining sector in India, including specifying the rules for the allocation of mining leases. The Mines and Minerals (Development and Regulation) Amendment Act, 2015 introduced, amongst other changes, the system of auctions to be used by state governments when granting mining leases and prospecting licence-cum-mining leases (also known as a composite licence). The purpose of changing the method of allocation of the resources was to remove the discretion that state governments previously had, and move towards a fair, objective, and transparent system. Read more