Modi Govt to Reduce Penalty for Late Payment of Coal Royalties, Forest Diversion Rules Diluted

News Click | Ayaskant Das | 29 Jul 2022

Penalties for delayed payment of royalties will be halved; new rules allow bypassing Gram Sabhas before diverting forest lands.

New Delhi: Even as big corporate entities have queued up to acquire mining rights over coal blocks from which they can sell the extracted minerals at the highest prices, the Modi government has proposed to halve the penalty rate that is binding upon leaseholders for failing to pay their royalties in time. The existing rate of 24% interest against delay in payments of royalties or rents to the Central government against minerals extracted from coal mines will be reduced to 12%.

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India at 75: Epochal moments from the 1950s

Frontline | Aug 12, 2022

1950: India gets first IIT in Kharagpur

The Indian Institute of Technology Kharagpur was India’s first IIT. Set up in May 1950, it started functioning from an address in Calcutta but shifted to Hijli in West Bengal’s Medinipur district in September that year. The setting up of a world-class institution for the imparting of technological education was part of the Nehruvian vision of making India self-sufficient in knowledge acquisition.

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