Govt taking concrete steps to boost private investment in coal sector: Minister
New Delhi, Aug 6
Minister of Coal and Mines G. Kishan Reddy held a meeting with the Consultative Committee of Members of Parliament to discuss commercial coal mining reforms and leveraging private sector participation, according to an official statement issued on Thursday.
He said the Ministry of Coal is actively engaging with industry bodies and private companies by organising roadshows and stakeholder consultations, to ensure greater awareness and wider participation. The minister informed the members that 14 rounds of commercial coal mine auctions have already been completed and the 15th round is currently under process.
He said that transparent auction process has transformed India's coal sector by promoting competition and investment.
The meeting was attended by Secretary, Ministry of Coal, Vikram Dev Dutt, senior officials of the Ministry and coal PSUs.
Dutt said the captive and commercial mines have played an important role in achieving 1 billion tonne coal production in the last two financial years.
He highlighted that captive and commercial coal mines have contributed around 20 per cent of the countries coal production in last financial year. The Secretary also informed that continuous reforms introduced in the coal sector have reduced timelines of operationalisation for fully explored blocks from 51 months to 40 months, and partially explored blocks from 66 months to 52 months.
Rupinder Brar, Additional Secretary, Ministry of Coal, gave a presentation on 'Commercial Coal Mining Reforms and leveraging Private Sector participation'.
The committee members appreciated the Ministry's efforts towards reforming the coal sector and offered suggestions on further improving private sector participation and balancing commercial mining growth with environmental and community concerns.
The minister assured the MPs, who attended the meeting, that their suggestions would be duly examined and taken into consideration.
— IANS
Reader Comments
Good to see the government pushing for private investment, but I hope they're not forgetting about environmental safeguards. The minister said they'll balance growth with community concerns — let's hope that's not just lip service. Our villages near coal mines deserve better.
14 rounds of auctions completed and 15th underway — the transparency in the process is commendable. This is how we become self-reliant in energy. Jai Hind! 🇮🇳
Impressive growth in coal production hitting 1 billion tonnes. India's energy demands are massive, and this kind of reform is necessary. Curious to see how they handle the environmental trade-offs in the long run.
The reduction in timelines is a welcome move, but what about the workers? With more private players, there needs to be strict labour laws and fair wages. Our miners work in harsh conditions. Hope the ministry is paying attention to that as well.
Private sector participation is the way forward. More competition, better efficiency. The 20% contribution from captive and commercial mines shows we're on the right track. Let's keep the momentum going! 💪
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.