(ET)
PM Narendra Modi asked coal and mines ministries to roll out the next wave of reforms for attracting big-ticket investments, domestic processing of minerals and substituting imported thermal coal with inventory of domestic output for building self-reliance in these areas. A government statement said the PM asked the top brass from both the ministries to reform the structure for auctioning mines and put in place efficient institutional arrangements to ensure wider participation from the private sector in exploration and mining.
The PM’s stress on moving towards self-reliance and investments comes in the backdrop of the government drawing up a blueprint to kickstart economic activities and generate employment once the country comes out of the anti-coronavirus lockdown.
There was discussion on auctioning additional blocks to attract fresh investments and inducting technology to reduce the cost of mining and transportation. Asking the mines ministry to prepare an action plan for benchmarking operations to international standards, the PM exhorted using modern technologies for efficient mining. He also directed that delays in obtaining clearances should be reduced and partnership with states must be established to facilitate increase in private investments.
