Mines and Minerals (Development and Regulation) Amendment Bill 2021
On 22nd March, 2021, the Parliament passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2021, bringing in many reforms to India’s untapped mining industry.
- The Bill amends the Mines and Minerals (Development and Regulation) Act, 1957.
Need
- Untapped Mining Potential: Mining in India contributes to only 1.75 per cent of the GDP, while the share for countries like Australia and South Africa is about 7 per cent of the GDP. India produces 95 minerals and has same potential like South Africa and Australia but the mining sector was under-explored and India still had to import minerals like gold ....
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