Consider the following statements regarding District Mineral Foundation (DMF) Funds. Though District Mineral Foundation's operation is under state governments, the Central Government retains the power to prescribe the rates of contribution. DMF funds are treated as extra-budgetary resources for the States. Pradhan Mantri KhanijKshetra Kalyan Yojana is meant to provide for the welfare of areas and people affected by mining-related operations, using the funds generated by District Mineral Foundations (DMFs). Which of the above statements is/are correct?a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2, 3Correct answer is option 'D'. Can you explain this answer?

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Consider the following statements regarding District Mineral Foundation (DMF) Funds.

Though District Mineral Foundation's operation is under state governments, the Central Government retains the power to prescribe the rates of contribution.

DMF funds are treated as extra-budgetary resources for the States.

Pradhan Mantri KhanijKshetra Kalyan Yojana is meant to provide for the welfare of areas and people affected by mining-related operations, using the funds generated by District Mineral Foundations (DMFs).

Which of the above statements is/are correct?

a)
1 and 2 only
b)
1 and 3 only
c)
2 and 3 only
d)
1, 2, 3

Correct answer is option 'D'. Can you explain this answer?

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Consider the following statements regarding District Mineral Foundati...

The Central Government retains the power to prescribe the rates of contribution, though DMF's operation is under state governments.

The Central Government notified on 17 September 2015 the rates of contribution payable by miners to the DMFs. In case of all mining leases executed before 12th January, 2015 (the date on which Mines and Minerals (Development & Regulation) Amendment Act (MMDR Amendment Act) came into force) miners will have to contribute an amount equal to 30% of the royalty payable by them to the DMFs. Where mining leases are granted after 12.01.2015, the rate of contribution would be 10% of the royalty payable. (Subsequent to the enactment of MMDR Amendment Act, mining leases are given out after auctions; hence, a lower levy).

DMF funds are treated as extra-budgetary resources for the States.

Pradhan Mantri KhanijKshetra Kalyan Yojana (PMKKKY) is meant to provide for the welfare of areas and people affected by mining-related operations, using the funds generated by District Mineral Foundations (DMFs).

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Consider the following statements regarding District Mineral Foundation (DMF) Funds. Though District Mineral Foundation's operation is under state governments, the Central Government retains the power to prescribe the rates of contribution. DMF funds are treated as extra-budgetary resources for the States. Pradhan Mantri KhanijKshetra Kalyan Yojana is meant to provide for the welfare of areas and people affected by mining-related operations, using the funds generated by District Mineral Foundations (DMFs). Which of the above statements is/are correct?a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2, 3Correct answer is option 'D'. Can you explain this answer?

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