Parliament passes law to open coal sector for commercial
New Delhi, Mar 12 () Parliament on Thursday passed abill that will remove end-use restrictions for participatingin coal mine auctions and open up the coal sector fully forcommercial mining for all domestic and global companies.
The Mineral laws (Amendment) Bill was passed in RajyaSabha with 83 MPs voting in its favour and 12 against. The LokSabha has passed the bill last Friday.
Replying after a brief discussion on the bill, CoalMinister Pralhad Joshi said the legislation will help in bringmore FDI in the coal and mining sector, and boost economy.
The minister said the bill was important as India shouldbe using its own natural reserves, instead of importing coalworth Rs 2.7 lakh crore.
"We have to produce coal and reduce imports," he saidadding more domestic output would lead to more electricitygeneration and also cut oil import bill.
The minister also assured the MPs that the governmentwill strengthen the state-owned Coal India Limited.
"CIL will be strengthened. I have already given it atarget to produce 1 billion tonne by 2023-24...There will beno problem in CIL,", Joshi said.
According to the minister, the legislation will bring a"sea change" in the sector.
Joshi said the stress should be on exploiting reserveswithout harming the environment.
The minister said India has one of the largest reservesof coal in the world and if it is not mined it would turn into"mud".
Earlier, 12 MPs from different parties expressed theirviews on the bill.
The House saw division of votes on the bill afterElamaram Kareem of CPI (M) pressed for it.
The Bill replaces the Mineral Laws (Amendment) Ordinance,2020.
The ordinance, which was cleared by the cabinet inJanuary, had brought amendments to the Mines and Minerals(Development and Regulation) Act, 1957, and the Coal Mines(Special Provisions) Act, 2015. MJH/NKDDV DV