Coal companies in the public and the private sector should share either their profits or their Royalty with project-affected people, Union Minister of State (Independent charge) Sriprakash Jaiswal said. Talking to the media after addressing a seminar on “Indian coal sector: issues and prospects” here on Monday, he said this would become law once the new mining policy was finalised. When asked for his views on this issue, he said, “We...

The new mining legislation will make woman of the house chief beneficiary of the compensation for land acquired for mining project, as the government seeks to ensure the large amounts provided go into ensuring livelihood and are not depleted quickly. This is in sync with the government’s attempt to empower women by giving them a bigger role in financial decision-making. “Women are known to manage the household finances better than their male...

Amid a furore over 26 per cent profit-sharing with locals under the proposed new mining law and demands for watering down the provision for PSUs, the Mines Ministry today said its final draft will go with the recommendations of the Group of Ministers. "Based on the discussion of the Group of Ministers (GoM), the final draft of the new mining bill is being prepared by the Mines Ministry and will be...

In three districts of Haryana, they have been agitating against the land acquisition policy of the State government. WHEN farmers of western Uttar Pradesh took to the streets protesting against the acquisition of their lands and demanding a just compensation package from the State government, the central leadership of the Congress was quick to cite the example of Haryana, where, according to United Progressive Alliance chairperson Sonia Gandhi, the best policies...

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...