Mining reforms will benefit Karnataka, says BSY

The Centre’s fourth tranche of the economic stimulus package that focuses on the mining of minerals through a seamless composite exploration-cum-production regime will benefit Karnataka, Chief Minister BS Yediyurappa said Saturday.

“The policy changes in mineral sectors will complement the state’s mineral policy,” Yediyurappa said in a statement.

“Our state has several mineral deposits and mining is thereby allowed. The present laws related to mining were cumbersome. Now, mining activities can be carried out without many hurdles. This will help in creating more employment opportunities in the state,” he said.

According to CM, Karnataka has abundant mineral deposits (iron, copper, gold, quartz, and uranium). “Mining these minerals will help the state’s economic growth. Private participation in mining will prove profitable to the state,” he said.

Investment in India’s defence, space, and civil aviation sectors will also benefit the state, Yediyurappa pointed out. “As the state has many manufacturing units in these sectors, other concerned units complementing these sectors will be established,” he said, adding that private participation in the atomic science sector will also benefit Karnataka.

“During the (World Economic Forum) Davos tour, many space and defence sector companies had expressed their interest in investing in the state. Now, the projects of these companies can be realized,” Yediyurappa said.