NEW DELHI: In a significant development, the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, was successfully passed by the Lok Sabha on Friday.
This bill holds paramount importance as it aims to grant exploration licenses for critical minerals to private sector entities. Furthermore, it bestows the central government with the exclusive authority to conduct auctions for mining leases and composite licenses pertaining to specific critical minerals.
The honorable Union Minister for Coal and Mines, Pralhad Joshi, took charge of presenting the bill for consideration and passage in the Lok Sabha. Meanwhile, in the house, there were protests by opposition members concerning the Manipur issue.
Pralhad Joshi said the proposed amendments in this bill will herald a transformative era. One of the key outcomes anticipated is the massive production of 1 billion tonnes of coal, which would contribute significantly to making India self-sufficient in the energy sector. In addition, he boldly declared the decision to halt coal imports by the targeted timeframe of 2025-26.
Despite the commotion caused by the opposition members with their slogan shouting, the bill successfully passed through a voice vote. This marks a significant step forward in shaping the future of the mining and minerals sector in India.
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