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October 2011: 1 | | Cabinet approves Bill to share mining profits | * Mines and Mineral Development and Regulation (MMDR) Bill, 2011 * Provides for mining companies to keep aside 26% of their net profits for a Mineral Development Fund to be used for development and rehabilitation of project-affected people in the tribal areas of the country * For the non-coal companies, amount will be equivalent to the royalty they pay * Appointed a regulatory body for overseeing the functioning of
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