MINING, PROFIT SHARING: ‘Coal profit sharing to fetch families `40,000 annually’!

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• July 9, 2011 
• Correspondent 
• New Delhi / DC.

• 
  

• Welcoming the decision taken by the GoM on Mines and Minerals (Development and Regulation) Bill, 2011, that coal mining companies will have to share 26 per cent of their profits with the local communities, while non-coal mining companies will have to share 100 per cent of their royalty, Centre for Science & Development have released statistics on how such a decision will help create an inclusive growth model.
  CSE director, Sunita Narain points out that in their recently-released report “Sharing of Mineral Wealth” her institute had calculated that the Indian mining sector enjoys huge profits and that sharing these profits will not make any material difference to the profitability of the companies. On the other hand, it will provide a much-needed bulwark for the development of the country’s mining districts.

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http://www.deccanchronicle.com/channels/nation/north/%E2%80%98coal-profit-sharing-fetch-families-40000-annually%E2%80%99-694