The ordinance for amendment in the MMDR Act 1957 and the CMSP Act 2015 has been promulgated. The Union Cabinet had earlier approved the amendments intending to open up new areas of growth in the coal & mining sector.
The amendments in the Acts would enable the following:
- Enhancing the ease of doing business
- Democratization of coal mining sector by opening it up to anyone willing to invest.
- Offering of unexplored and partially explored coal blocks for mining through prospecting license-cum-mining Lease (PL- cum-ML).
- Promoting Foreign Direct Investment in the coal mining sector by removing the restriction and eligibility criteria for participation.
- Allowing of successful bidder/allottee to utilise mined coal in any of the plant of its subsidiary or holding company
- Attracting large investment in coal mining sector as restrictions of end use has been dropped.
The details are as given below:
- Amendments in respect of Ministry of Coal