Free Press Journal

Indore: Rs 1.2 lakh crore earned through mine auction, says Narendra Singh Tomar 


Indore: Union minister for mines Narendra Singh Tomar on Friday said that by adopting the amended Mines and Minerals (Development and Regulation) Act, 2015, the union government received Rs 1.2 lakh crore more revenue from the auction of 23 blocks in 2017-2018. He said efforts are underway to adopt a win-win policy for auctioning of 102 blocks.

“The mining sector will become a tool of revolution for Make in India drive,” Tomar said while inaugurating the fourth national conclave on mines and minerals at Brilliant Convention Centre here. Chief minister Shivraj Singh Chouhan, NITI Aayog CEO Amitabh Kant were present as guests of honour.

In his address, Tomar shed light on how PM Modi led government plans to transform mining sector to bring transparency in auctioning of natural resources. He said that mining sector was mired in complexities till 2014.

“We amended the decades old Mines and Minerals (Development and Regulation) Act, 1957, in 2015. After amendment, 43 blocks were auctioned through bidding process. Through new initiative, we received Rs 1.55 lakh crore, which is Rs 1.2 lakh crore more than the amount received in previous bids. The new Act helped in increasing the production by 6% and in terms of values it up by 23%,” Tomar said.  This increased states’ share in revenue and helped in job generation. Stating that 11 blocks will start production by year end, Tomar called  on the states to increase their exploration capacity.

Sand Mining Act draft ready

Sand, whose illegal mining is rampant in the country, will be covered by a separate law. Tomar said the draft of Sand Mining Act is ready. It has been drafted after consultation with all stake holders and has been sent to states for feedback.

MP offers big opportunity: CM

Chief minister Shivraj Singh Chouhan said MP, which has secured seventh position in recently released list of ease of doing business, will further improve its system to improve the rank. He said MP offers big opportunity for setting up mining-based industries.

Mines don’t harm nature: Kant

NITI Ayog CEO Amitabh Kant said there is need to convince judiciary that mines don’t harm nature. He said modern technologies help in mining without disturbing the region’s ecology. If the mining sector registers 1% growth, it adds 2% to 3% rise in GDP and helps in creating six million jobs. This is the only sector, which gives jobs and growth both. Sharing statistics, Kant said that South Africa’s mining sector contributes 8% to its GDP, it is 11% in China. “In India, mining sector contributes just 1.4% to GDP, “ Kant said. He expressed the need to amend mining laws and procedure.