Existing and prospective industry and Mining players of Jharkhand are apprehensive about the draft Mining bill, which seeks to make them share 26 per cent of profits with locals. A group of ministers (GoM) approved the draft bill on September 17. Speaking to The Telegraph, Jindal Steel & Power Limited’s (JSPL) senior deputy general manager (corporate affairs) V.P. Sharan said: “The proposed clause — sharing profits with local people — sounds...
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Dangerous nexus to bully RTI activists
Next month, the Right to Information (RTI) Act, 2005, one of the most powerful laws enacted in independent India, completes half a decade in the cause of transparent and accountable administration. It enables, on demand, access to information the State and Central governments have in their possession. It empowers Indian citizens to ask for and get specific information, subject to certain norms, from a Public Authority, “thus making its functionaries...
More »Mining Draft Bill gets GoM nod by Sujay Mehdudia
It approves 26 per cent share in profits for local people The draft bill proposes setting up of a fund to pay beneficiaries Final legislation likely to be introduced in the winter session of Parliament The Group of Ministers (GoM), headed by Union Finance Minister Pranab Mukherjee, on Friday approved the new Mining Draft Bill, including the provision that Mining companies share 26 per cent of profits with local people affected by their...
More »Mines: 26 p.c. of profit for affected people
The Group of Ministers, headed by Finance Minister Pranab Mukherjee, on Friday cleared the draft Mining bill, which makes it mandatory for miners to share 26 per cent of their profits with the people affected by their projects. “It is largely approved. One more sitting of the GoM remains, and after which it will go to the Cabinet. Whatever we have suggested has by and large been approved,” Union Minister for...
More »Q+A - India confronts land grabs in industry push by CJ Kuncheria
As India rapidly industrialises, the government and private firms are seeking large tracts of farm land to build factories, power plants and highways, sparking off violent protests by farmers and others. Here are some questions and answers on the issue: WHY IS LAND A BIG ISSUE? For many Indians, land is the only asset or social security that they possess and is a mark of social standing. Nearly 60 percent of India's 1.2...
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