 statement of objects and reasonsour country has no dearth of natural resources almost all resources crucial for economic development are found in sufficient quantities in our country but the problem lies in their proper exploration and then exploitation we have to import several items at considerable cost when they could be easily manufactured indigenously we lag far behind in the areas of mineral exploration and the techniques used in mining are obsolete which 1 ite in waste of valuable resources ifall available resources are fully and properly exploited, india will become an economic power with this object, it is proposed to set up a national commission for proper and full utilization of natural resources available in the country the bill seeks to achieve the above objectives new delhi, chandrakant khaire march 2, 2006 financial memorandumclause 3 of the bill provides for the setting up of the national commission for the exploitation of natural resources clause 4 provides for the setting up of state commissions and union territory commissions clause 7 provides that the national commission shall depute team of experts to the states for verification/confirmation of the report submitted by the state commission clauses 8 and 9 provide that the central government shall take all steps to ensure that natural resources in the country are fully and properly exploited and shall provide financial assistance to the states so that their resources are properly developed the bill, therefore, if enacted, would involve expenditure from the consolidated fund of india it is estimated that an annual recurring expenditure of 'rupees ten thousand crore would be involved a non-recurring expenditure of rupees fifty thousand crore is also likely to be involved memorandum regarding delegated legislationclause 10 of the bill empowers the central government to make mules for carrying out the provisions of the bill the rules will relate to matters of detail only and as such the delegation of legislative power is of a normal character