Question: Uttar Pradesh cabinet recently approved the promulgation of the Uttar Pradesh District Mineral Foundation Trust Regulation, 2017. What percentage of District Mineral Foundation’s fund would be spent on high priority fields under the prime minister’s mineral sector welfare scheme?
(a) 45 percent
(b) 55 percent
(c) 60 percent
(d) 65 percent
Answer- (c)
Related facts:
- On May 2, 2017, the Uttar Pradesh cabinet approved the promulgation of the Uttar Pradesh District Mineral Foundation Trust Regulation, 2017 for the District Mineral Foundation Trust established in the districts for the development of people and areas affected in the process of mining.
- Under this Regulation, 60 percent of the District Mineral Foundation’s fund will be spent on the high priority fields under the Prime Minister’s Mineral Sector Welfare Scheme.
- Drinking water supply, environmental protection and pollution control measures, health care, education, women and child welfare, sanitation and skill development are included in high priority fields.
- Apart from this, 40 percent funds will be spent on other priority fields such as physical protection, irrigation etc.
- The amount deposited by the lease holder in the District Mineral Fund will be in addition to the royalty and will not exceed one third of the royalties.
- Funds from trust fund will be deposited in the commercial nationalized bank.
- The transaction of the amount shall be governed by the joint signature of the member nominated by the concerned Mining Officer and the Management Committee.
- It is important to note that the District Mineral Foundation was established on April 25th, 2017.
Reference:
http://information.up.nic.in/View_Hindinews.aspx?id=191
http://upnews360.in/newsdetail/71125/hi