Amid corona lockdown, Finance Minister Nirmala Sitharaman on Saturday made several important announcements regarding coal sector and mining in the fourth phase of the announcement of an economic package of Rs 20 lakh crore. She said that the government's monopoly in the coal sector would be ended. She said that about 50 new blocks will be made available for auction for mining. The rules will be relaxed for this. She told a press conference here that now the private sector will not be given commercial license according to the prescribed fee per ton. The Finance Minister said that licenses for commercial mining of coal to the private sector will be given under the revenue sharing system.
In her statement, the Finance Minister said that this step is being taken to reduce the import of coal and to make the country self-sufficient in the field of coal production. Sitharaman said that the government will invest Rs 50,000 crore to develop the infrastructure to take coal out of the mine area.
For your information, let us tell you that during his press conference, the Finance Minister also said that private investment in mining of minerals will be increased. The government will introduce exploration mining production system for the mineral sector. Sitharaman said that 500 mining blocks will be made available under the new system. According to the Finance Minister, Rs 50,000 crore will also be spent on the development of infrastructure. She also told reporters about the auction of bauxite and coal together.
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