The Mines & Minerals (Development & Regulation) Bill-2011 which got the nod of the Union Cabinet on Friday has drawn flak from the Orissa government.
Terming the new Bill as 'too little', 'too late', the state Chief Minister Naveen Patnaik said, “I'm informed that the new Bill has provision for 26 per cent profit sharing by coal companies and an additional 10 per cent royalty for iron ore. I had asked the Prime Minister for 50 per cent of the super normal profit made by the private mine owners. We had asked for much, much more than has been announced on Friday by the Central Government. That would have helped the poor people in the state.”
The Bill is likely to be tabled in Parliament in the winter session.
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