DISTRICT MINERAL FOUNDATION
New mineral fund rules restrictive: Chhattisgarh government
Chhattisgarh government red-flags new District Mineral Foundation guidelines, citing potential misuse of funds meant for people affected by mining activities.
Jharkhand govt contemplates to waive farm loan up to Rs 2 lakh: CM Champai Soren
"We waived Rs 40,000 farmers' loan in the past and are planning to increase it to Rs 2 lakh. Similarly, the current base of 125 unit free electricity will be increased to 200 units," Soren said while addressing a meeting at Gandhi Maidan in Jamshedpur to inaugurate and lay foundation of development projects.
Coal India's contribution to govt exchequer drops 2.2 per cent to Rs 9,560 crore in April-May
Coal India Ltd's contribution to the government's exchequer decreased by 2.2% to Rs 9,560.28 crore in April-May of the current fiscal year, down from Rs 9,777.64 crore in the previous year. Total levies paid to the government in May rose to Rs 4,763.20 crore. State governments receive revenue from coal production through royalties, GST, and other levies, with Jharkhand and Odisha receiving the highest amounts.
Coal-producing states earn revenue worth Rs 1.52 lakh cr in last 9 yrs: Centre
Coal-producing states earned Rs 1.52 lakh crore from royalty, DMF, and NMET in the last nine years. The coal mining sector significantly contributes to states' revenue, with a CAGR of 13.80%. Fossil fuel production, transparent bidding process, employment opportunities, land compensation, and infrastructure development play crucial roles.
Lok Sabha Speaker Om Birla says MPs not invited for DMF meetings; minister says will amend rules
Lok Sabha Speaker Om Birla raised concerns about Members of Parliament not being invited to District Mineral Foundations (DMF) meetings in their respective areas. Union Minister Pralhad Joshi assured that rules would be amended to ensure mandatory representation of MPs and MLAs in the governing council of DMFs.
NMDC fixes ore prices at Rs 4,950 per tonne
State-owned NMDC on Tuesday fixed the rates for lump ore and fines at Rs 4,950 and Rs 4,210 per tonne, respectively. Lump ore, or high-grade iron ore, contains 65.53 per cent iron, while fines are inferior grade ore with 64 per cent iron or less.
- Go To Page 1
Curbs in the works for mineral misclassification
Officials in the know told ET that concerns have been raised by many state governments that mine owners were replacing higher grades of iron ore with lower grade ones in their samples submitted to Indian Bureau of Mines (IBM). This resulted in undervaluing of government proceeds from the mining activities as earnings are linked to the sale price of the minerals.
Comprehensive CAG audit for all district mineral foundations
DMFs are statutory authorities, operating like a trust, which a state government sets up in districts affected by mining. They are funded through the contribution from miners.
Govt aiming to make country free of Naxalism before 2024 elections: Amit Shah
Sounding the poll bugle, the BJP leader also urged people to vote out the Bhupesh Baghel-led Congress government in the state in the Assembly elections this year. People should vote for the Bharatiya Janata Party if they wanted to see Narendra Modi as Prime Minister once again in 2024, he said, while blaming the Baghel government for a 'rise' in crime and corruption.
Government says 214 mineral blocks put on sale since 2015
As compared to the auction of 108 mineral blocks in six years from 2015 to 2021, 106 blocks have been put on sale in one-and-half years since April 2021, the mines ministry said in a statement.
Over 1 lakh projects completed under Khanij Kshetra Kalyan Yojana for relief in mining areas, says Government
The government on Monday said that out of 2,52,995 projects sanctioned under Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY), 1,33,144 have been completed so far. The Centre launched PMKKKY to provide for the welfare of areas and people affected by mining-related operations, using the funds generated by District Mineral Foundations (DMFs).
Centre seeks to amend PMKKKY for effective use of DMF funds
The govenrment in 2015 launched the Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY) scheme to provide for the welfare of areas and people affected by mining-related operations using the funds generated by District Mineral Foundation (DMF).
Govt mulls changes in pricing structure to determine average selling price of bauxite
The representations said that the ASP reached through the present conversion factor was very high when compared to actual price of bauxite, the ministry said in a note for consultation on the proposed changes.
View: This is India's golden mineral moment
The MMDR Act, which is the principal legislation to regulate mines and minerals, including coal and lignite, has undergone massive developments in the last eight years of our government under PM Narendra Modi. Major steps have been taken to increase the area under exploration, boost mineral production, and generate more revenue for the states - all in a transparent, time-bound, and trustworthy manner.
States used Rs 1,460 crore from district mineral foundation fund to combat COVID-19
The total funds available under DMF as on March 28, 2020 was to the tune of Rs 14,694.47 crore, the ministry said. "State governments are continuing to use District Mineral Foundation funds to combat COVID-19, wherein Rs 1,459.93 crore has been spent till April 28, 2022," the ministry said, adding that the amount was spent between March 28, 2020 and April 28, 2022.
316 District Mineral Foundation Trusts exempted from income tax: Coal and Mines Minister Pralhad Joshi
District Mineral Foundation (DMF) is a non-profit statutory 'Trust', which been created in each district under the provisions of Mines and Minerals (Development and Regulation) Amendment Act, 2015.
Chhattisgarh: Abandoned Durg mine to be site of India's biggest man-made forest
"The project is being carried out on the direction of Chief Minister Bhupesh Baghel. The mine used to supply limestone to SAIL's Bhilai Steel Plant but has been lying abandoned for the last few years. Forest cover in the Nandini area used to be around 17 kilometres before mining started," a state government public relations department official said.
All COVID-19 Care Centres to be closed in Odisha as cases decline
At least 83 CCCs across the state are almost empty following a reduction in the number of COVID-19 patients who require hospitalisation.
Chhattisgarh govt to explore new areas to find diamond, gold mineral reserves
With the help of firms that are professionals in the field, the government of Chhattisgarh has decided to explore new places in the state that contain reserves of precious minerals such as diamonds, gold, silver, and copper.
Government looking to address 'issues, shortcomings' in fixation of average sale price of minerals
The government has also sought suggestions from various stakeholders to overcome the issue till the National Mineral Index (NMI) is formulated for individual minerals.
Hutti Gold Mines to triple production in one-and-half years: Karnataka Minister Murugesh Nirani
The minister also highlighted the new policy measures the state government is working on to curb illegal mining and attract investment, including introducing a single-window clearance system and holding 'mining adalats' for addressing grievances, besides ramping up gold production in the state.
Consumers pay Rs 25,000 crore price for high coal tax, keeping power out of GST
Petrol and diesel are not the only sources of energy for which consumers are paying through their nose because of high taxes and different tax regimes on input and final products.
CBDT notifies rules on tax exemption for District Mineral Foundation Trusts
The Board has specified conditions for availing the exemption. The Trust cannot engage in any commercial activity and activities and nature of the specified income shall remain unchanged throughout the financial years. The Trust has to file income tax returns and audit reports, certified by a chartered accountant.
FIMI urges Centre to continue with present system of average sale price by IBM
Miners' body FIMI has urged the Centre to continue with the present system of average sale price published by Indian Bureau of Mines (IBM) which it says is the most effective and transparent way to ensure price discovery and revenue to the exchequer.
FIMI urges ministry to continue with the system of Average Sale Price published by IBM
NMI is expected to form the basis of all statutory payments in mining such as auction premium, royalty, District Mineral Foundation (DMF) and NMET.
A $3 billion fund may aid India’s mining belt after virus havoc
District Mineral Foundation funds have nearly Rs 23,800 crore, according to data from mines ministry.
Subsume multiple levies into GST to cut tax burden on mining sector: Ficci
Underlining multiple challenges coupled with disruptions due to coronavirus lockdown, Ficci has also sought deferment of royalty and contributions to DMF and the National Mineral Exploration Trust (NMET) by six months.
Tussle over utilisation of Rs 23,000 crores of district mineral foundation fund towards Covid-19 relief aid
"A corpus of Rs. 23510 crores of unutilized DMF fund is available which if liquidated can bring great relief to the people in mineral states at a time of a national crisis," said PRAHAAR in a statement.
Indian Chamber of Commerce seeks sops for mining industry
In a statement issued on Friday, ICC requested the Finance minister to "allow deferring of payments of mining levies, namely Royalty and the contributions towards District Mineral Foundation (DMF) and National Mineral Exploration Trust (NMET) for the period upto 30th June 2020 - for the next 3 months."
Load More
