TaxTMI 
TaxTMI 
Odisha CM directs officers to expedite spending of DMF funds
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....disha CM directs officers to expedite spending of DMF funds<BR>PTI News<BR>Dated:- 3-12-2025<BR>PTI<BR>Bhubaneswar, Dec 3 (PTI) Odisha CM Mohan Charan Majhi directed officers to expedite expenditure from the District Minerals Foundations (DMFs), which garnered Rs 34,052 crore by the end of October. Majhi issued the direction while reviewing the operations of the DMFs on Tuesday evening. Of the 3....
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....0 districts of the state, 11 districts where mining happens have DMFs. The state has so far spent 55 per cent of the total funds collected by it this fiscal, officials said. Majhi asked district authorities to spend the money on the improvement of schools and colleges, healthcare, water supply, and transportation in areas affected by mining. The DMF is a non-profit statutory 'fund' for every Ind....
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....ian district affected by mining-related operations. It uses a part of the revenues generated from mining operations. These funds, collected from mining leaseholders, are used to implement developmental and welfare projects, address adverse mining impacts and create sustainable livelihoods for affected people. The CM directed the Steel & Mines Department secretary to submit an annual report along....
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.... with the audit report of each DMF. He also directed officers to take steps to prevent pollution in the human habitations located in the close vicinity of the mining areas. He said the DMF funds collected from the mining of minor minerals will be used in any part of the district. It was resolved in the meeting that the DMF Trust Board will hold its sittings and ensure that the projects undertak....
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....en by it are expedited, a statement said. In the districts where the annual DMF fund collection is more than Rs 10 crore, they will constitute an Endowment Fund, which will be invested in government securities or bonds and FDs of scheduled banks, it added. Majhi said this fund would be used to create livelihood for future generations in areas where mining activities have been stopped for any rea....
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....son or after the depletion of minerals. PTI AAM AAM SOM<BR> News - Press release - PIB....