Economics • Indian EconomyMedium
What is the primary economic objective of establishing 'District Mineral Foundations' across mineral-rich districts such as Dantewada, Korba, and Raigarh in Chhattisgarh?
A. To utilize statutory mining royalty contributions for the welfare and long-term development of affected persons and mining-impacted areas✓ Correct Answer
B. To regulate international commodity export quotas for steel and aluminum products
C. To provide venture capital funding exclusively to corporate tech startups in urban centers
D. To collect corporate income tax on behalf of the Central Board of Direct Taxes
💡 Solution & Explanation
District Mineral Foundations are statutory trusts established in mining-affected districts to utilize funds contributed by mining leaseholders for localized developmental projects, healthcare, education, and environmental restoration benefitting local communities. This decentralized funding mechanism ensures that wealth generated from natural resources directly improves human development indicators in mining zones. Transparent project execution is monitored by district governing councils.
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