High court breather for miners over social impact funds1 min read . Updated: 22 Dec 2015, 01:53 PM IST
Thee Delhi high court asks the govt not to force miners to pay retrospectively for a social impact fund
New Delhi: The Delhi high court on Tuesday asked the government not to force miners to pay retrospectively for a social impact fund.
Under the amended Mines and Minerals (Development and Regulation) Act, miners have to contribute towards a social impact fund called the district mineral foundation fund. Under the rule, new and existing miners must pay 10% and 30% of their revenues, respectively.
The Federation of Indian Mineral Industries (FIMI) went to court after the government in September said miners must pay the royalties retrospectively from 12 January.
On 7 November, the Supreme Court asked the miners to approach the high court. FIMI is willing to pay prospective payments from September.