You are here: Home » PTI Stories » National » News
Business Standard

Govt recives about Rs 5,000 cr through DMF

Press Trust of India  |  New Delhi 

Nearly Rs 5,000 crore has been collected so far through District Mineral Foundation (DMF), which will be utilised by the states for the development of places and people affected by mining-related operations.

The Mines Ministry is monitoring the implementation of the DMF and the Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY).

"So far about Rs 5,000 crore has been collected in the fund (DMF)," an official said.

The official further said, except for Tamil Nadu, all the remaining major mineral-bearing states have instituted DMF and adopted guidelines in Pradhan Mantri Khanij Kshetra Kalyan Yojana, the official said.

As follow up of Committee of Secretaries' (CoS) meetings, discussions were held with National Institute of Smart Government (NISG) for development of a national portal to monitor the implementation of projects/schemes being undertaken under this major welfare initiative of the Centre, the official added.

DMF is to work for the interest and benefit of persons and areas affected by mining-related operations. It is to be funded out of the contribution received from holders of mining lease, Mines Ministry had earlier said in a statement.

On the achievements made by the Ministry in December, the official said that two mineral blocks of limestone and manganese ore were successfully auctioned in Odisha.

These two blocks have an estimated value of mineral resources to the tune of Rs 7,458 crore.

"The estimated cumulative revenue to the state government's over a period of 50 years through the process of e-auction of these two blocks turns out to be approximately Rs 2,822 crore, inclusive of royalty, contribution to District Mineral Foundation and National Mineral Exploration Trust," the official added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, January 16 2017. 14:28 IST
RECOMMENDED FOR YOU