The Hindu Business Line : `New mining policy in monsoon session'

Hyderabad April 7 The Union Minister of State for Mines and Geology, Mr T. Subbarami Reddy, on Saturday said the new mining policy would be announced in Parliament during the monsoon session.

This policy framework would help cut clearance time and procedures with a focus on value addition.

Addressing mining experts on day two of a Golden Jubilee seminar on `Present status of mining and future prospects' organised by the Mining Engineers' Association of India (MEAI), Mr Reddy announced that the final draft would be ready shortly.

Revenues for States

The Union Minister said the contention that the Centre was trying to retain a large part of the total revenues was not true. There would be enough clarity in the new policy that would lay down all necessary norms. The policy was being designed to ensure enough revenue for every State. As a part of this, the Union Minister said planners were involved in an exercise aimed at reducing red tape, cutting down on the clearance procedures and process time in sanctioning exploration, prospecting and mining licences.

Mr Reddy said 60 per cent of the nation's mineral wealth was not linked to forests and could be extracted without harming the environment. Efforts would be made to provide necessary recognition for those engaged in the mining sector, both socially and professionally.

The event participants included the CMD of the National Mineral Development Corporation, Mr B. Ramesh Kumar, and the Director of Mines and Geology, Mr V.D. Rajagopal.

More Stories on : Mining & Quarrying | Industrial Policy | Politics

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Cement industry: Findings of a sample study

Planning will focus on inclusive growth: Montek

Govt to make rural service mandatory for medicos

New SEZ rules evoke mixed reaction

IOC to invest in E&P sector abroad thro' jt venture

CERC plans hike in penalty for overdrawing of power

Service tax collections target fixed at Rs 50,100 cr

Minister assures more funds for textile research

`New mining policy in monsoon session'

`No literate member in 26% of rural households'

Make service recipient liable for service tax on rent: ICAI