Mines & Minerals (Development and Regulation) Amendment Bill 2021 introduced in Lok Sabha

The Mines and Minerals (Development and Regulation) Amendment Bill 2021 was introduced in the Lok Sabha today. Coal Minister Pralhad Joshi introduced the Bill which amends the Minerals (Development and Regulation) Act 1957.

 

The legislation seeks to remove the distinction between captive and merchant mines. The Bill empowers the Central Government to issue directions



regarding the composition and utilization of funds maintained by the District Mineral Foundation. The Bill aims at fully harnessing the potential of the mineral sector, increase employment and investment in the mining sector. This will also help in increasing the revenue of the States. The legislation will also help in increasing the production and time bound operationalisation of mines in the country.