Centre Plans Changes In Mining Sector To Increase Contribution To GDP

New Delhi: The Centre plans to bring tangible reforms in the mining sector by amendments to the Mines and Minerals (Development and Regulation) Act, said Union Mines Minister Pralhad Joshi.

Addressing a function organised by the Ministry of Mines, here on Wednesday for handing over 100 G4 mineral blocks reports of Geological Survey of India (GSI) to different state governments, the minister said the ministry is in the process of finalising the accreditation process for private exploration entities.

“I think in another two weeks, we can put forth the comments of states and stakeholders. We are bringing the amendment in next session of the Parliament in November,” he said.

He asked the states, which have received the mining block reports, to act without delay to make the auction process faster. He called for increasing the contribution of the sector to the country’s GDP to 2.5 per cent.

Assuring all assistance from the Centre in this regard, Joshi pointed out that despite having the fourth largest coal reserve, India is importing thermal coal. Mining is crucial for both Aatma Nirbhar Bharat as well as India to become a USD 5-trillion economy, he added.

Of 14 states that received the mining block reports, Madhya Pradesh received maximum 21 reports, followed by Karnataka and Andhra Pradesh with nine reports each.