There are a few reasons we recommend that mineral receipts be saved only in a Permanent Fund as the new non-wasting asset. First, by insisting on all amounts being saved in the Permanent Fund, we are insulating the budget from the boom & bust commodity cycle. When prices are high, revenues expands, and politicians expand expenditure to match. When the prices crash, so …
Author: Goenchi Mati
Consultations on the District Mineral Foundations
Goa’s District Mineral Foundation Rules have been notified by the government. Unfortunately, the Goa DMFs do not comply with the mining laws, in particular the PMKKKY (Pradhan Mantri Khanij Kshetra Kalyan Yojana). Already over Rs. 30 crores have been collected. However, a recent legislative assembly question disclosed that no plans have been drawn up to utilize the funds, as required by the notified DMFs …
Water for future generations
The Paani Foundation, a spin-off from the Satyamev Jayate TV show, has done an outstanding pilot in three talukas in Maharashtra. Over 100 villages participated in the Paani Cup. This involved sending villagers for training in watershed management, and then actually building water harvesting structures in 45 days in peak summer, just before the monsoon. Future generations played a key part in …
Goa has a Permanent Fund, why doesn’t the UK?
Rahul Basu and Deepak Narayanan write at the Citizen’s Income Trust website about what the UK can learn from our Goenchi Mati Movement. The UK recovered around GBP 400 billion less that Norway from a similar amount of North Sea oil. A huge loss to the people, roughly GBP 6,000 a head. As UK starts fracking, instituting our principles of zero loss …
Areas reserved for Public Sector mining
The simplest way to achieve zero loss mining is to mine through the public sector. The Mines & Minerals (Development & Regulation) Act has a provisio permitting states to reserve areas (or even the entire state) for public sector mining. Here’s the official list from the Indian Bureau of Mines (IBM) of areas reserved in this manner. Gujarat, in 2009 under …
Would you like Rs. 9,000 every year?
From the amount recoverable for the mining illegalities, Karan Bhagat estimates that Rs. 9,000 can be paid out each year to every man, woman and child in Goa as a Citizen’s Dividend. Would you like to receive such a Citizen’s Dividend?
California’s Senate: Carbon tax & Dividend
The California Senate has called for a tax on fossil fuels, and for the receipts to be paid out as a dividend. This is what our sister movement, Our Children’s Trust, is calling for. As a tax at the point of consumption, it would be highly progressive. In an ideal situation, the tax would be saved in a Permanent Fund for future generations. With this …
Mining illegalities have recommenced
Mining in Goa came to a screeching halt in 2012 with the Shah Commission Report. One of the key findings was widespread illegalities. “It is pertinent to state here that such illegal act can’t happen without connivance of the politicians, bureaucrats and lessees. There is a complete collapse of the system.” It would seem that the industry hasn’t learnt. A number of illegalities have …
How mining corrodes governance
Ramachandra Guha writes in The Telegraph about mining and governance. The Goenchi Mati proposal including zero-loss mining, save all into a Permanent Fund, and distribute real income as a Citizen’s Dividend is intended to reverse most of these ill effects. What do you think, will it work? How can we make it better?
Talk at TISS Mumbai on Aug 26
TISS Mumbai will host Rahul Basu from the Goenchi Mati Movement for a talk on Aug 26 on the Goenchi Mati Movement proposal. The talk is at 4pm at the Bhabha Hall, Academic Building 2, Naoroji Campus, TISS, Mumbai. This talk will focus more on the development aspects of the Goenchi Mati proposal. The talk is titled “Beyond the Resource Curse: Resource dependence, inter-generational equity and …