In order to bring about transparency and increase state revenue from allocation of mining leases, Justice MB Shah Commission recommended that such leases be granted through public auction. After holding several hearings and inspections in Goa, the commission said natural resources, mostly iron ore, had made a few leaseholders billionaires. It is necessary that leasehold rights for mining are granted by public auction. This would increase the income of the state and there would be transparency in
Tag: Mines and Minerals Bill
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The element of certainty
The new Mining Bill encourages private players to enter prospecting. However, if the result is zero after the recce, who will compensate them? So far, prospecting in India has been a business of the government, and has been happening at a much slower pace than required,
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New environment may curb mining, not illegal mining
The recent mining scams have sounded a wake up call, and yet definitive action to prevent illegal mining has not come forth.Will new laws such as higher taxation and profit sharing help the cause of the governmentââŹâ˘s efforts to curb illegal mining through technology and strengthened monitoring? Charu Bahri goes beyond the regular headlines of new scams and ends up not being convinced the new law will curb illegal mining.