Friday, July 23, 2010

Govt considers 26% equity for tribals in mines

NEW DELHI: In a bid to deplete the reservoir of antagonism in the central Indian tribal belt that feeds the Naxalite cadre, the government is engaged in fast-paced discussions to provide 26% equity in mining entities to the affected people, mostly tribals, where excavation of minerals takes place.

The Group of Ministers headed by Pranab Mukherjee met on Thursday to discuss the proposed Mines and Minerals (Development and Regulation) Act but the debate about whether the affected people should be provided shares in the company or directly provided a share in the annual revenues from the company without getting embroiled in distributing equity remained unresolved.


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