The reforms in Mineral Mines Development and Regulation Act 2021 will boost ease of doing business in the mineral- mining sector and make it more competitive and productive. Explain (200 Words)
Refer - Financial Express
Enrich the answer from other sources, if the question demands
IAS Parliament 4 years
KEY POINTS
· The mining sector is next only to agriculture in terms of generating employment.
· The sector directly and indirectly employs about 1.1 crore people and sustains the livelihood of about 5.5 crore people in the country. .
· Auctioned mines not made operational within three years will be returned to the concerned states for reallocation through auction and Greenfield mines allocated to PSUs.
· One of the key reforms is transferring all valid rights, approvals, clearances and licences to the new lessee, valid until the mineral reserves last. This would facilitate lessees transfer mine to another entity.
· Removing the distinction between captive and non-captive mines was long-coming, existing captive mines have also been allowed to sell mineral over and above their requirements.
· This amendment Act is set to redefine the standard of exploration required for auctioning of partially explored mineral blocks for prospecting licence-cum-mining lease.
· This will boost seamless transition from exploration to production and encourage participation of private players
· Local Members of Parliament a member of the District Mineral Foundation (DMF) Governing Council to make the DMF more outcome-oriented.
· Arrangements have been made to keep a check on misuse of DMF funds so that inclusive development of those affected by mining can be ensured.
