New Delhi: Lok Sabha on Friday passed Mines and Minerals (Development and Regulation) Amendment Bill.
The Union cabinet earlier this month had cleared the Bill, which seeks to amend the Mines and Minerals (Development and Regulation) Act, 1957. The Bill allows the private sector to bid for mining critical minerals like Lithium. Out of the list of critical minerals, a few of them have been brought under the proposed amendment, which will allow their mining by private entities.
The previous Bill did not allow the auction of minerals but the amended Bill will permit private sector participation in mining of non-atomic minerals. Union Minister of Parliamentary Affairs, Coal and Mines, Prahlad Joshi said the Centre will clear 24 bids for auction of coal mines. "The government's auction is going to primarily benefit states which will receive revenue. Earlier, states would get only royalty but the government wants to help states earn revenue through auctions," Joshi said.
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According to Union Minister of Parliamentary Affairs Prahlad Joshi, before 2005, Odisha's revenue from coal was Rs 5,000 crore which has almost tripled to become Rs 14,000 crore now. Earlier, Congress leader Adhir Ranjan Chowdhury cited an example from 1978 and said that the House took up debate on the no-confidence motion on the day it was admitted. Reacting to this, Pralhad Joshi also said that the government is ready for debate on the day and time decided by the Speaker and that rules provide a 10-day window.
