CURRENT AFFAIRS

Detailed explanation-1: -In order to incentivize the States who take initiative in exploration, auction and operationalisation of mineral blocks, Ministry of Mines has instituted a National level award scheme viz., Rashtriya Khanij Puraskar in three categories of minerals. The award money is Rs. 3 cr, Rs. 2 cr, and Rs.

Detailed explanation-2: -India’s mining wealth is concentrated in Odisha, Andhra Pradesh, Rajasthan, Chhattisgarh, Jharkhand, Madhya Pradesh and Karnataka. Iron ore reserves are predominantly found in Odisha, Jharkhand, Chhattisgarh, Maharashtra, Goa and Karnataka.

Detailed explanation-3: -In the federal structure of India, the State Governments are the owner of minerals located within the boundaries of the State concerned. Although mineral wealth vests with the State Govt., yet the subject of regulation of Mines and Minerals development is covered under 7th schedule of constitution of India.

Detailed explanation-4: -23 of List II (State List) to the Constitution of India mandates the state government to own the minerals located within their boundaries, The entry at serial No. 54 of List I (Central List) mandates the central government to own the minerals within the exclusive economic zone of India (EEZ).