Tag: The Mineral Laws

Parliament Passes The Mineral Laws (Amendment) Bill, 2020

Parliament approved the Mineral Laws (Amendment) Bill, 2020. Parliament gave its approval to the bill when Rajya Sabha adopted the same. The bill was passed by the majority members and twelve members opposed it during the division of votes in Rajya Sabha. The Minerals Laws (Amendment) Bill, 2020 will ensure a new era for promoting the Indian coal and mining sector, especially the ease of doing business. Experts believe that coal production will increase and dependence on imports will be reduced when this action will come into the force. Mineral Laws (Amendment) Bill, 2020 The amended bill has clear provisions for companies to participate in the auction of coal and lignite blocks even if they don’t have prior experience of coal mining in India. This will not only increase participation in coal and lignite block auctions but will also facilitate the implementation of FDI policy in the coal sector. Now, companies that are not involved in any specific type of end-use can participate in the auction of Schedule II and III coal mines. The removal of the last usage barrier will allow for wider participation in the auction of coal mines specified by the Central Government for various purposes such as its consumption, sale or any other purpose.