- The ordinance for amendment
in the MMDR Act 1957 and the CMSP Act 2015 has been promulgated.
- The Union Cabinet had earlier
approved the amendments intending to open up new areas of growth in the
coal & mining sector.
- The amendments in the Acts
would enable the following:
- Enhancing the ease of doing business
- Democratization of coal
mining sector by opening it up to anyone willing to invest.
- Offering of unexplored and
partially explored coal blocks for mining through prospecting
license-cum-mining Lease (PL- cum-ML).
- Promoting Foreign Direct
Investment in the coal mining
sector by removing the restriction and eligibility criteria for
- Allowing of successful
bidder/allottee to utilise mined coal in any of the plant of its
subsidiary or holding company
- Attracting large investment
in coal mining sector as restrictions of end use has been dropped.
- The amendments will help to
increase domestic production of India.
- It will also help India
achieve its targets set.
- The GoI plans to increase
coal production to 1 billion tonnes by 2024.
- For the financial year
2019-20, the target set is 660 million tonnes.
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