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Mineral Development Fund

Mineral Development Fund


Under state mineral policy Govt. of Maharashtra has created “ Maharashtra Mineral Development Fund ” by enacting Maharashtra Act No.XIX of 2001.

Every year an amount equal to  ten percent out of total mineral revenue collected during immediately preceding financial year is earmarked as mineral development fund.

The fund so constituted is to be utilised for:

a) Carrying out the functions and activities of the Directorate of Geology and Mining for mineral exploration and mineral administration in the state.

b) Carrying  out the  activities of the “ Maharashtra State Mining Corporation ” as an  organisation  and  also  as  a  shell agency in accordance with State Mineral Policy for  promoting mineral based industries in the state.

c) For providing infrastructure facilities for the mines and mine's affected  areas like Roads, Water & Electricity and also for maintaining ecological and environmental  balance in  mines  affected  areas, within a periphery  of  20 kms.


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