Odishas District Mineral Foundation fund collection highest in country

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Odishahas collected the highest amount of Rs 11,984 crore among all the states under theDistrict Mineral Foundation(DMF) fund since it was created in 2015, Union mines ministerPralhad Joshitold Lok Sabha.

Till January, a total of Rs 45,095.86 crore in DMF fund was generated in the country. Odisha got more than one-fourth of the share, the ministers written reply revealed.

NeighbouringJharkhand(Rs 6,533.04 crore) and Chhattisgarh (Rs 6,329.78 crore) managed to collect the second and third highest amounts under DMF. Rajasthan is fourth, having collected Rs 4,496 crore.

The funds are contribution from mining companies operating in the respective districts, which

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has been mandated under the Mines and Minerals (Development and Regulation) Amendment Act, 2015. The mining companies pay 30% equivalent of the royalty amount for leases given before 2015 and 10% for leases granted after that when auction of mines and mineral blocks started.