India Inc on Friday hailed the passage of the Mines & Minerals Development & Regulation (MMDR) Bill 2015 saying that it will pave the way for restarting mining activities in the country.
“The new legislations will herald a new regime of competition, efficiency, and transparency for key natural resources by fostering fairplay through market forces. This will strengthen the reform agenda of the government and drive the economy to higher levels of growth. It is a strong boost to the confidence of investors,” industry body Ficci said in a statement.
“This will bring in much-needed transparency in the allocation process and kickstart the mining sector which was languishing for want of clear guidelines,” CII said.
“Full marks to different shades of political parties who showed the same spirit in the Insurance Bill,” Assocham opined, adding, “Once enacted, it would increase transparency and end discretion in the auction mines, besides augmenting the mines’ productivity,”
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