The Minister of State for Mines and Steel, Shri Vishnu Deo Sai has said that Ministry of Mines has prepared a draft of the Mines and Minerals (Development and Regulation) (Amendment) Bill, 2014 seeking to amend the Mines and Minerals (Development and Regulation) Act, 1957. The draft Bill is presently put-up on the website of the Ministry of Mines inviting comments/suggestions as part of the pre-legislative consultation process. On the basis of the comments/suggestions received from the general public, state governments, and stakeholders, the draft Bill will be finalized in consultation with the Department of Legal Affairs. Thereafter, the Bill so finalized will be introduced in the Parliament after obtaining the approval of the Cabinet. No definite date for the introduction of the Bill has yet been finalized.
In a written reply in the Rajya Sabha today, Shri Vishnu Deo Sai said that the thrust of the Bill would be to ensure: (i) improved transparency in the allocation of mineral resources; (ii) obtaining for the government its fair share of the value of such resources; (iii) attracting private investment and the latest technology; and (iv) eliminating delay in administration, so as to enable expeditious and optimum development of the mineral resources of the country. One of the proposed provisions in the Bill is for creation of District Mineral Foundation (DMF) in every district affected by mining, which will be funded by an additional levy related to royalty. The funds will be used for the benefit of persons affected by mining as also for the rebuilding of infrastructure in mining affected areas.
In a written reply in the Rajya Sabha today, Shri Vishnu Deo Sai said that the thrust of the Bill would be to ensure: (i) improved transparency in the allocation of mineral resources; (ii) obtaining for the government its fair share of the value of such resources; (iii) attracting private investment and the latest technology; and (iv) eliminating delay in administration, so as to enable expeditious and optimum development of the mineral resources of the country. One of the proposed provisions in the Bill is for creation of District Mineral Foundation (DMF) in every district affected by mining, which will be funded by an additional levy related to royalty. The funds will be used for the benefit of persons affected by mining as also for the rebuilding of infrastructure in mining affected areas.
