Annuity Scheme, CIL, 2020

Keeping in view the need for more efficient and cost competitive the coal companies are moving towards outsourcing mode instead of departmental mode of operation. This would result in reduction in employment opportunity in the company. Further, in most of the cases of land acquisition, the demand for employment exceeds the employment opportunity available in the mine/ project. As such, the possibilities of providing employment to the land oustees are becoming difficult for the company.
Annuity may be a responsive alternate method in lieu of providing employment as well as maintaining sustainable resource of livelihood to the affected families.
This annuity scheme shall be implemented in lieu of employment claim by the eligible affected family against land acquisition. All such entitled Affected Family shall opt for annuity and forgo the job benefit or one time monetary compensation in lieu of employment against acquired land by entering into an agreement with project authority.