New Delhi: Union Minister Pralhad Joshi has said that Ministry of Mines is contemplating further amendment to the Mines and Minerals (Development and Regulation), MMDR Act to bring about tangible reforms in the mining sector of the country.
He urged the mining sector to increase the contribution of the sector to the country’s GDP to 2.5 per cent. Addressing a function organized by the Ministry of Mines here today for handing over 100 G4 mineral blocks reports of Geological Survey of India (GSI) to different State Governments, Minister Joshi stated that Ministry of Mines is in the process of finalizing the accreditation process for private exploration entities.
The Minister called upon the States that received the mining block reports to act on the reports without any delay to make the auction process faster.
He also directed the Ministry of Mines to make available more financial assistance to States. Stating that proactive approach by State governments can bring about tangible reforms in mining, the Minister assured all assistance from the Centre.
Mr.Joshi pointed out that despite having the fourth largest coal reserve, India is still importing thermal coal and our mineral potential is no way less than other mineral rich countries like Australia.
Minister said that mining is crucial for both Aatma Nirbhar Bharat as well as for India to become a USD 5-trillion economy. During the past decades this sector was mired in controversies and choked by political apathy. The present Government under the visionary leadership of Prime Minister Shri Narendra Modi has taken several transformative initiatives to invigorate the mining sector and also to accelerate mineral exploration in the country,
