-The Economic Times   A group of ministers formed to approve the draft mining Bill, has agreed to earmark 100% of the Royalty paid by major mineral mining companies , to compensate people displaced by such projects. The panel, chaired by finance minister Pranab Mukherjee , which met on Thursday , also agreed to earmark 26% of the profit made by coal mining companies, in favour of people directly affected ,...

In a sudden U-turn, the mines ministry has decided against asking miners from mandatorily sharing 26 per cent of net profits with the affected local population. Instead, it has proposed that miners set aside 26 per cent of the Royalty they pay to states for sharing with locals. This dramatically changes what locals will get if the proposal becomes law. For example, for a tonne of iron ore which costs about...

TODAY, India is considered around the world as a rapidly developing country posting economic growth rates of around 8-9 percent consistently over the last several years. Along with China, which is much further ahead, India is seen as a powerhouse of the global economy in the decades to come and already it is home to a very large number of dollar billionaires, perhaps the largest such number in Asia. In...

Farmers of Gorakhpur and adjoining villages are divided over the issue of the Haryana government acquiring 1,500 acres of prime agricultural land for the 2,800 mw nuclear project, the first in the state. While most senior farmers are on relay dharna for several months taking a maximalist position of not giving their land away, the younger ones have formed their own samiti setting down outlandish, even if negotiable, demands in...

The rural development ministry has proposed that farmers should get 80% of the profits from resale of land bought from them for development, much higher than that suggested by a Sonia Gandhi-led panel. The National Advisory Council had pegged the compensation after resale at 25% of the profits made by private developers. The proposal, aimed at giving farmland owners a better deal, follows protests in Uttar Pradesh's Greater Noida last month over...