New Delhi, Mar 19 : Union Minister for Mines, Coal and Parliamentary Affairs Pralhad Joshi
in Lok Sabha on Friday said that the amendment in the Mines and Minerals (Development and Regulation) Act, 1957 is aimed at renewing the auction process for minerals and coal mining rights and creating employment opportunities.
In his opening remarks before moving The Mines and Minerals (Development and Regulation) Amendment Bill, 2021 for consideration and passing in the House, Mr Joshi said with this amendment, at least 55 lakh jobs will be created and transparent auction of minerals will be possible.
He said to increase mining activity, ‘We will allow private sector with enhanced technology in mineral exploration.”
Captive mines can sell above 50 per cent of their produce, he added.
Mr Joshi said that after this bill is converted into law, the Central Government will be authorised
to issue guidelines on the structure and utilisation of funds operated by the District Mineral Foundation (DMF).
He said that not only that, the purpose of this draft law is to create employment opportunities and
encourage investment in the mineral sector.
Mr Joshi said this will lead to a large increase in revenue to the states.
He said that the Department of Mines and Minerals is the second largest area for employment generation.
Such provisions, he said, have been made in the draft law that it will be easier to transfer the lease from
one lease holder to another.
Initiating the discussion on the Bill, Vincent Pala of Congress opposed the government’s amendment, alleging it to be a conspiracy to grab the revenue of non-BJP ruled states.
‘The Central Government is going through a financial crisis and it will try to hide that failure through this draft law,’ he said.
Lauding the Bill, BJP member Sunil Kumar Singh said it is essential for reaching $5 trillion dollar economy.
The Bill seeks to amend the Minerals (Development and Regulation) Act 1957 and provides for
removal of distinction between captive and merchant mines.
The Bill empowers the Central Government to issue directions regarding composition and utilization of funds maintained by the District Mineral Foundation.
The Bill provides that captive mines may sell up to 50 per cent of their annual mineral production other than atomic minerals in the open market after meeting their own needs.