Over half of ₹1-lakh crore collected for the welfare of mining districts not spent: report
A first-of-its-kind analysis of the District Mineral Foundations shows that despite collecting about ₹1-lakh crore in the past decade, more than half the funds is unspent. The DMFs are non-profit trusts set up in mining districts, covering coal, lignite, major minerals such as iron, manganese, and bauxite, and minor minerals, and tasked with ensuring that a portion of the revenues generated from mining is spent on the development of the districts. Collectively these three States account for over 56% of the total DMF funds collected in the past 10 years in the country, the report noted. The overall projections done by iFOREST show that the total DMF accruals in the next 10 years could be as high as ₹2,50,000 crore to ₹3,00,000 crore — two-and-a-half times to three times of the accruals in the previous 10 years. “With a total fund accrual of over ₹1 lakh crore, DMFs have a pivotal role in addressing developmental challenges in India’s mining districts, which are some of the most underdeveloped regions of the country.
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