New Delhi: The Mining and Minerals Amendment Bill has been passed in the Lok Sabha. This will create 55 lakh jobs, said Minister Prahlad Joshi.
In the field of mining and mineral resources, the Development and Regulation Amendment Bill was passed in the Lok Sabha yesterday. In this regard, the Union Minister for Industry, Prahlad Joshi, said that in the field of mining and minerals, the current legislation is very important. Thus, 55 lakh direct and indirect jobs will be created in the sector.
Private companies, with advanced technologies, will be involved in mining development and mineral research. In our country, 95 minerals are available. This is similar to South Africa and Australia. We import only coal and gold. The share of the mining sector in the country’s current GDP is 1.75 per cent.
Through the reforms proposed in the current bill, the contribution rate will rise to 2.5 per cent, strengthening the economy. Also, the number of mines to be auctioned will increase. Thus, he said.