New formula may compensate land-losers: Arun MairaSeptember 2nd, 2010 - 8:50 pm ICT by IANS
Kolkata, Sep 2 (IANS) The Planning Commission may moot a new formula to compensate those who have lost their land to mining companies, its member Arun Maira said here Thursday.
“A clear picture is likely to emerge in the next two weeks,” Maira told reporters on the sidelines of a seminar by the Institute of Company Secretaries of India (ICSI).
The commission would suggest the plan to the mining ministry shortly. There are proposals like corporates undertaking to spend 26 percent of their profits on land losers or making them shareholders.
“The companies should set aside an amount, which could be in relation to the royalty they pay to the people displaced. That could be paid even before the royalty is paid,” Maira said.
The proposal gains importance in view of the recent row between Vedanta and the environment ministry over mining in Orissa’s Niyamgiri hills.
- Apex court questions environment ministry on Niyamgiri (Lead) - Aug 01, 2011
- Orissa moves SC against denial of green nod to Vedanta mining project - Apr 01, 2011
- Vedanta won't give fight over Orissa hill tribe's sacred mountain - Feb 01, 2011
- Niyamgiri tribals join anti-Posco protests - Jul 07, 2011
- Tribals happy after government rejects Vedanta Group's plans for mining in Orissa - Aug 25, 2010
- No environment clearance to Vedanta - Jul 02, 2011
- Make tribes people stakeholders in development: Aiyar - Aug 12, 2010
- Vedanta replies to ministry's showcause notices - Sep 15, 2010
- Protest in London to stop mining project in Orissa - Jul 25, 2010
- Vedanta: Apex court moved against denial of forest clearance - Mar 10, 2011
- Media exposure rocked mining boat in Niyamgiri: Filmmaker - Nov 26, 2010
- Troubled Vedanta loses appeal for controversial Orissa refinery - Oct 22, 2010
- Orissa irrigation project gets initial forest clearance - Sep 01, 2010
- Government probing Vedanta, Posco for flouting rules - Aug 02, 2010
- Supreme Court asks for fresh petition on Orissa mining issue - Apr 01, 2011
Tags: company secretaries of india, corporates, icsi, institute of company secretaries, institute of company secretaries of india, kolkata, losers, mining companies, orissa, planning commission, profits, proposal, proposals, royalty, shareholders, sidelines, vedanta