Orissa MPs can do better by asking for royalty of Iron Ore to be linked 80% of world price.

It is really commendable that MPs from Orissa have stood up at long last in the parliament on the IIT issue and made it an issue of it.
As we know the protest has not yielded any result, at least immediately. Center has gotten accustomed to a an acquiescing Orissa, with little or no protest as much as a squeak.
My suggestion to them would be: don’t waste your energy in begging. I was checking yesterday and found that 46.7 million tons of Iron Ore have been raised last year from the mines of Orissa. If we could charge the world market price to the buyers we would have earned:
($84.4-$10)*46.5 million =$3.5 billion $$. Where $10 is the raising cost.
If we get this money where ever then GOO can have 15 – Rs. 1000 crore IITs. And if we can collaborate with MPs of Jharkhand and 36 garh, we will be in a position like OPEC countries to pay our way to developed condition.

Now some one may ask me, how do we get this done? This is money that the mine licensee are minting – how does Govt of Orissa /36 Garh / Jharkhand do it? My answer is through OMC. Now even if the cost is $15 due it’s inefficient & higher cost ways (not corrupt) the money can be given back or donated to GOO prescribed causes and spent on the mining areas for their development. There will be enough, Rs.15000 crores earning for every cause in Orissa. If we get $60 as royalty - there still will be $25 for mining and transportation. It is OK to have the pit head steel plant but that they can be given the lisence so the state gets it's $60 or 80% of world market price which ever is greater. Posco/ Mittal or TATAs will still have 5% advantage over others to locate in Orissa or 36 Garh or Jharkhand, considering there is a 15% disadvantage of backward area(infrastructure).

Let the MPs do us a favor, demand and raise the Royalty to 80% of the world Ore price(thus link it to the same permanently and GOO ensure that there is no stealing of Ore from the mines as prevelant. And Orissa will have money for everything and to spare. We need to spend the money to make our 7,011 high schools were functioning in the State(now 7800) Oriya medium High schools, 44,416 Primary Schools, 14.233 Upper Primary Schools, comparable to the English medium schools or better like it was in 50s and 60s, when a Purusottampur High School produced a topper in High School Certificate examination. (http://orissadiary.com/orissa_education/orissa_education.htm)
An educated citizenry can take care of themselves.
Best wishes,

Sandip