Parliament passes Bill to boost private investment in mining, Opposition protests

Parliament on Monday passed the Mines and Minerals (Development and Regulation) Amendment Bill which aimed at creating employment opportunities and allow the private sector in mining activities.

The Bill was passed by Rajya Sabha through a voice vote amid the opposition's demand that it be sent to a select committee for scrutiny. Lok Sabha passed the bill on March 19.

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Union Minister for Coal and Mines Pralhad Joshi said that the bill will not curb the powers of states, as claimed by some opposition parties.

He also said that the Bill aims to bring changes in the mining and coal sector and will generate 55 lakh direct and indirect employment.

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Joshi added that the government wanted to bring private players into this because the country has rich minerals like coal, gold, silver and not being able to bring it out. The government wanted to bring these changes and will redefine exploration, he said.

The government is proposing to make National Mineral Exploration Trust (NMET) an autonomous and professional body, which would provide fund for exploration, Joshi added.

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A total of "334 working merchant mines have expired in 2020 and out of that, 46 mines were working and were dispatching. Now despite all clearance out of that 46, only 28 has been auctioned despite all clearance given by us and in between that there was a shortage of iron ore," he said.

It would create a level-playing field and end the system of captive and non-captive mines, which was followed in India only and created a lot of problems. The government is also fixing the mechanism to calculate extra royalty into the schedule of the bill, Joshi said.