District Mineral Foundation (DMF)
Gagnoa Why in news? Odisha’s Keonjhar district is India’s highest recipient of funds under the District Mineral Foundation (DMF) scheme, and has spent Rs.3,000 crore under the scheme over the past seven years, but the district has only recently finalised real beneficiaries.
About District Mineral Foundation
- Nature: Trust set up as a non-profit body
- Aim : To work for the interest and benefit of persons and areas affected by mining related operations.
- Fund Contribution : Miners.
- Statutory Regulation: Mines and Minerals (Development & Regulation) Amendment Act, (MMDRA) 2015
- Expected to implement the Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY)
- Royalty :
- Before MMDR Amendment Act amount equal to 30% of the royalty
- Mining leases after amendment 10% of the royalty payable
- DMF contribution would not be exceeding one-third of royalty
- Central Government : Power to prescribe the rates of contribution
- State governments
- DMF’s operation, composition and functions of the DMF
- The contributions made to DMFs are collected by them
- DMF funds are treated as extra-budgetary resources for the State Plan.