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Land for landed by NC Saxena

The 12th Plan Approach Paper looks upon land more as raw material for mining and industrialisation than as a source of livelihood for the poor. DESPITE a fast economic growth, more than 60 per cent of the population of India is still dependent on land. The 12th Plan Approach Paper, however, looks upon land not as a source of livelihood for the poor but as raw material for mining and industrialisation....

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Mining companies to take a hit of Rs 15,000 cr

-The Business Standard   Mining companies have warned of a price spiral in commodities once the new mining law provisions are in place. The industry sees the government decision of mandatory profit and royalty sharing impacting it by an estimated Rs 15,000 crore every year. This would include a Rs 12,200-crore hit on non-coal mining companies and Rs 2,800 crore on coal miners. “The provisions of this Bill will affect the industry badly,”...

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Industry chambers, mining bodies oppose new Bill

-The Hindu   ‘The mechanism for compensating the affected people is not clearly defined and has many limitations' Industry chambers led by Confederation of Indian Industry (CII) and FICCI on Friday sought a review of the Mines and Minerals (Development and Regulation) Bill, 2011 approved by the Union Cabinet stating that the industry was concerned on royalty, profit sharing and the methodology of providing assistance to project-affected persons. In a statement here, Rana Som,...

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Share in profits for tribal areas in new mining bill by Sujay Mehdudia

For non-coal firms, amount will be equivalent to their royalty The Union Cabinet on Friday approved the landmark Mines and Mineral Development and Regulation (MMDR) Bill, 2011 that provides for mining companies to keep aside 26 per cent of their net profits for a Mineral Development Fund to be used for the development and rehabilitation of project-affected people in tribal areas. For the non-coal companies, the amount will be equivalent to...

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New Mining Bill aims at equity, transparency by Sujay Mehdudia

The Mines and Mineral Development and Regulation (MMDR) Bill, 2011 approved by the Union Cabinet on Friday aims to ensure transparency, equity, elimination of discretion, effective redress and regulatory mechanisms along with incentives encouraging good mining practices, which will lead to technology absorption and exploitation of deep seated minerals. The menace of illegal mining in Karnataka and Goa continues unabated despite strong outrage against it. As many as 82,000 cases were...

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