As India prepares for the winter session of Parliament starting Thursday, India Real Time brings you fact sheets for key pending legislation that lawmakers are likely to consider for approval.
Name: The Mines and Minerals (Development and Regulation) Bill, 2011
Aim: The bill’s broader aim is to bring every aspect of mining in India – exploration, grant of leases, royalty pay-out, land acquisition, investigation and prosecution of illegal mining – under one umbrella law.
Why it’s important: The bill seeks to substantially increase compensation for villagers and people classified as tribal who are required to give up their land for mining projects. If approved, this bill would require coal miners to give 26% of annual profits from any mining project to a district-level foundation that will help those displaced by the project. Other miners would have to pay an amount equal to the royalty they pay to the government to a foundation for those who have been displaced from their land for the project. The bill would also make it easier to get mining leases, a process that would become more transparent through the introduction of a provision that makes competitive bidding mandatory. The bill would also allow mining leases to be transferred from one company to another. Read more