Economy

Atmanirbhar package: Mining industry welcomes reforms announced under fourth tranche

Our Bureau New Delhi | Updated on May 16, 2020 Published on May 16, 2020

The mining industry has welcomed reforms announced under the fourth tranche of the Aatmanirbhar Bharat package.

The Federation of Indian Mineral Industries (FIMI) has long been requesting the Government to allow seamlessness in the mining sector starting from reconnaissance to mining stages, in line with international best practices.

“We are glad that the Government has finally decided to grant Composite Exploration-cum-Mining-cum-Production Licence (CEMPL) to allow seamlessness in the sector. However, the finer details of the newly announced regime are to be seen. We look forward to working closely with the Government to ensure proper planning and implementation of the regime for growth of the mining sector in India,” FIMI said in a statement after Finance Minister Nirmala Sitharaman’s address to announce the fourth tranche of the Aatmanirbhar Bharat package to tackle COVID-19 induced economic slowdown.

This tranche focused on announcing structural reforms that will boost the infrastructure sector. But analysts point out that most reforms announced by the Finance Minister were either long overdue or have already been declared earlier.

“FIMI also appreciates that based on our long-standing request, the Government has decided to remove the distinction between captive and non-captive mines, which will lead to independent development of the mining sector in India,” the mining industry body said.

Other announcements

Sitharaman also announced Tariff Policy reforms to reign in on errant power distribution companies and define consumer rights. But the said Tariff policy has been in the works for a while and was long overdue,according to sector watchers.

Among the other reform , Minister of State for Finance, Anurag Thakur said that power distribution companies in union territories will be privatised. This move follows the success in lowering distribution losses in cities like Delhi after privatisation.

“Power distribution in Union Territories to be privatised is an exciting step ahead. These are smaller and manageable entities. It will assist in generating private sector appetite amongst Indian and international investors,” said Sambitosh Mohapatra, Leader – Power and Utilities, PwC India.

Published on May 16, 2020

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.