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Govt ends monopoly over coal, allows commercial mining on revenue-sharing basis

Monday, May 18, 2020   (0 Comments)
Posted by: Annie Nguyen
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Govt ends monopoly over coal, allows commercial mining on revenue-sharing basis

16 May 2020

 

NOTE: INR 50,000 crore is ~ US$ 6.6 billion.

 

While asserting that many sectors need "policy simplification and structural reforms", Finance Minister Nirmala Sitharaman on Saturday announced the fourth tranche of 20 lakh crore economic stimulus. She said structural reforms will be the focus of fourth tranche of economic stimulus package with an aim to boost growth, create jobs.

 

"PM Modi had said that we should prepare for tough competition. When we speak of "self-reliant India", we are not looking inwards, it is not isolationist policy, it is making India rely on its strengths, ready to face global challenges," she said.

 

"Many sectors need policy simplification, to make it simpler for people to understand what sector can give, participate in activities and bring transparency. Once we decongest sectors, we can boost the sector, for growth and jobs," Sitharaman said.

 

Sitharaman said the government has identified sectors that need reforms and these are coal, minerals, defence production, airspace management, airports, MRO, power distribution companies in union territories, space, atomic energy.

 

"The structural reforms being announced today will impact those sectors which are new horizons of growth, unleashing new investment, boosting production and creating jobs," the FM said.

"Commercial mining in coal sector to be brought in and government monopoly will be removed. Government will...

 

https://www.livemint.com/news/india/economic-stimulus-fm-announces-commercial-mining-of-coal-on-revenue-sharing-basis-11589623133293.html

 


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