In a significant decision, the Mahanadi Coalfields limited (MCl) has announced annuity of Rs 12,000 per month for land oustees eligible for employment as per a new Resettlement and Rehabilitation (R&R) Policy.
“According to the new scheme approved by the MCl Board, a person eligible for employment in priority category as per provisions of the R&R Policy in vogue may opt for annuity of Rs 12,000 per month till the age of 60 years in lieu of employment in the company,’’ said MCl spokesperson Dikken Mehra on Saturday.
In addition, the company has also decided that the annuity amount of Rs 12,000 would be increased by a fixed sum to cover inflation. “The persons eligible for employment including the dependent the spouses of the deceased project-affected families will have the option of availing this annuity scheme or the existing onetime cash compensation of Rs 10 lakh in lieu of employment,’ Mehra said.
Further, in case of the death of the person availing option of annuity before attaining the age of 60 years, his/her spouse or dependent would be entitled to a 75 per cent of the annuity amount for the balance years of the person who has initially been extended the annuity, he added.