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Mahanadi Coalfields Ltd (MCL) has announced an annuity of Rs 12,000 per month for land owners eligible for employment in coal bearing areas.
According to a press release, the board of MCL, a subsidiary of Coal India, has approved this scheme in line with the Resettlement and Rehabilitation Policy 2006 of the Odisha Government.
Land-losers who have other sources of income may now opt for annuity of Rs 12,000 per month till the age of 60 years in lieu of employment in the company, the release said.
MCL has also decided to increase the annuity amount of Rs 12,000 per month by a fixed sum to cover inflation, it added.
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