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New MMDR, 2011 will benefit people, won't dent companies' profit
Ranchi | Sunday,Aug,7,2011 IST
 
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Advocating for the draft Mines and Minerals (Development and Regulation) Bill 2011 (MMDR 2011), a report released by New Delhi based research and advocacy body said claim of mining companies and industry, opposing the government s recent proposal to set aside 26 per cent of their net profits to be shared with local communities would dent their profitability, was baseless. The Centre for Science and Environment (CSE) report released here after a deep survey of top 50 mining districts of India, that account for more than 85 per cent of the value minerals produced in the country (Rs 85,000 crore), have close to 50 per cent of the total mine lease area in the country. The report specifically mentions that besides having rich minerals these districts have also on average more poverty, more forest cover and large tribal population than rest of the country and nearly 2.5 million people belonging to these areas are directly affected by mining in these areas which includes those, who have lost their land livelihoods. If the MMDR provisions were implemented in the last fiscal, then the affected population of these districts would have got more than Rs 9,000 crore as share of profit from mining companies. The per capita figure for these districts could have also been Rs 38,000 in 2010 as share of profit from mining companies, CSE Deputy Director General Chandra Bhushan said. MORE UNI AM-AK AK SV BST1415

-- (UNI) -- 07CA6.xml

 

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