Explorer

Commercial Mining For Coal To Be Allowed, Govt Monopoly Will Be Removed, Says Sitharaman

The Finance Minister Nirmala Sitharaman announced structural reforms to boost the coal industry in fourth press conference to discuss measures for eight sectors.

New Delhi: Finance Minister Nirmala Sitharaman announced structural reforms to boost the coal industry and said that commercial mining in the coal sector will be brought in and govt monopoly will be removed. Commercial mining will be done on the revenue sharing mechanism instead of the regime of fixed rupee/tonne. The minister also said that the focus for the industry will be to build self-reliance as was announced by the Prime Minister during his address to the nation. India being the 3rd largest deposit of coal, the minister said gradually imports of coal will be reduced and restricted to only that which is not available here. She said during the conference that around 50 blocks will be offered for bidding as a way to reduce imports and increase self-reliance. The government is also planning to increase privatisation and the entry forms will also be liberalised and incentives will also be given. She also said that the government will invest Rs 50,000 crore for building evacuation infrastructure. For the industry Sitharaman also focussed on more environment-friendly measures that will be stressed on such as coal gasification and liquefication. The processes will also be incentivised through rebate in revenue sharing. Coal Bed Methane production and auction will also be encouraged. The Finance Minister Nirmala Sitharaman held a fourth press briefing today to discuss measure for 8 sectors today - Coal, Minerals Defence Production, Airspace management, MROs Power distribution companies, Space sectors, and Atomic energy.
View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

'Motion' To Remove Jagdeep Dhankhar As Rajya Sabha Chairman Dismissed On Technicality. Here's What Happened
'Motion' To Remove Dhankhar As RS Chairman Dismissed On Technicality
Rahul Gandhi Sports Blue T-Shirt To Protest Ambedkar's 'Insult'. Know Why Blue Is Linked With Dalit Resistance
RaGa Sports Blue T-Shirt To Protest Ambedkar's 'Insult'. Know Why Blue Is Linked With Dalit Resistance
Bihar MLA Ritlal's Brother Accused Of Shooting At AIIMS Security Officer Surrenders To Police
Bihar MLA Ritlal's Brother Accused Of Shooting At AIIMS Security Officer Surrenders To Police
'I Never Thought...': Ravichandran Ashwin Responds To Father's Controversial Remarks
'I Never Thought...': Ravichandran Ashwin Responds To Father's Controversial Remarks
Advertisement
ABP Premium

Videos

Rahul Gandhi Linked to Incident That Led to BJP MP Mukesh Rajput’s HospitalizationBJP MP Mukesh Rajput Hospitalized in ICU After Alleged Push by Rahul GandhiHeated Exchange in Parliament as Opposition Targets Amit Shah Over Ambedkar RemarksLucknow Protest Turns Tragic: Congress Worker Dies, Police Investigation Underway

Photo Gallery

Embed widget