The Goenchi Mati Movement is a campaign in Goa that is based on two principles: 1. non renewable resources like minerals belong to the people with the state being the trustee 2. future generations should get access to resources that are at least equal to what is available to the present generation
The campaign seeks the following demands:
Zero loss Mining
The state of Goa should ensure that the full value of the minerals is captured.
All mineral receipts be treated as capital receipts
Mineral receipts are to be treated as capital receipts,which will reduce the volatility in government revenue.
All receipts from minerals be deposited in a Permanent Fund
A permanent fund is sought where the state is the trustee and the future generations are the beneficiaries. The Government Pension Fund of Norway serves as a great model.
Distribution of fund income as a citizen's dividend
This will create a stake for the citizens in their minerals and leave the state as a non-mineral state. The Alaska Permanent Fund#Permanent Fund Dividend is an example.
Mechanics of implementation
The state can mine and auction off the ore and raise the contract on a per ton basis.