With an 8.2 per cent growth, India is at present one of the fastest growing economies in the world and the coal and mines sector is contributing considerably to the present economic growth, Union Home and Cooperation Minister Amit Shah, said on Tuesday.
Addressing the 6 th National Conclave on Mines and Minerals by the Union Mines ministry, Shah said reforms undertaken “has resulted in eliminating deep rooted corruption” that previously existed in coal block allotments. These reforms have resulted in noteworthy improvement in coal production domestically and imports have reduced considerably.”
“Prime Minister Narendra Modi has always given utmost priority to ensure reforms in the mining sector so that it can further contribute to the overall economic growth of the country,” Shah said adding that the mining sector is of paramount importance in generating income to States.
India’s coal production increased from 577 million tonnes (mt) in 2014 to 817 mt in FY22 and is likely to cross 920 mt this fiscal. The aim is to auction as many as 500 mineral blocks by the end of 2024, the Union Minister for Mines, Pralhad Joshi, said.
On Tuesday, 59 fresh blocks were presented to State governments and 29 fresh coal blocks to the Ministry of Coal.
The Ministry of Mines also launched three modules of Mining Tenement System (MTS) developed by Indian Bureau of Mines (IBM) which would facilitate stakeholders in submission of online application of registrations, monthly, annual statutory returns and mining plans.