Latest News | Centre Looking at Mining Reforms: Mines Secretary
Get latest articles and stories on Latest News at LatestLY. The Centre is looking at mining reforms, including amendments to the Mining Act and auction rules, Coal and Mines Secretary Anil Kumar Jain has said.
New Delhi, Nov 13 (PTI) The Centre is looking at mining reforms, including amendments to the Mining Act and auction rules, Coal and Mines Secretary Anil Kumar Jain has said.
These are progressing well and in the next six to eight weeks the reforms are likely get adopted in the statute book, he added.
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The statement assumes significance as the mines ministry had earlier sought suggestions from the general public, mining industry and other stakeholders on the proposed reforms in the Mines and Minerals (Development and Regulation) Act, 1957.
"While we are looking at mining reforms, amendments to the MMDR Act, the auction rules, etc, it needs to be mentioned that they are well progressing...," Jain was quoted as saying in a statement.
He addressing the 'CEOs Roundtable on Propelling the Mining Industry Forward through Sustainable Technologies for Atmanirbhar Bharat', organised by Ficci.
The government is trying to introduce a level playing field between PSUs and the private sector, he said.
"We are going to open the sector and reduce the requirement of exploration status. The licensing regime of the coal sector where there are milestones that you need to adhere to when in a mine, they have been lacking so far, we have been introducing them.
"There will be a system of incentivizing early production. There will be a regime of 'reward and punish' in the mining sector," Jain added.
He further said there has been a sea change in the way industries are working over the years and sustainability is the buzzword in the sector currently.
"It is high time all of us realise that the environment cannot be ascribed zero value. The public is aware and is demanding more action from the legislature and judiciary for a healthy environment and the industry realizes this as well," he pointed out.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)