Reserving Mineral bearing area to PSU amounts locking of Minerals and affect GDP Growth of our nation.
Jul 13 2021
In India, Mineral bearing areas are reserved for public sector under taking. According to Indian Bureau of Mines publication, the areas reserved from 1972 to 2010 were not utilized by any of the Public Sector Under taking. This will establish that, when the government don’t want to grant Mineral Concession to a particular company or a particular group, immediately Government declared that, the areas are reserved for PSU. This amounts, misuse of mineral for domestic purpose by the common people such filling of pits, construction, etc., without payment of royalty and without scientific mining. Conservation and Development of mineral, the moto of our MMDR Act is defeated by Reservation.
The Net Result, the State Government will lose Royalty, Central Government will lose GST, common people will lose the Employment. Above all it affects the GDP Growth of our nation also. When Government clearly knows that, the minerals are the raw materials for lot of industries, locking of minerals in the name of reservation for PSU is not a wise decision. When Modi ji Government’s moto is “EASE OF DOING BUSINESS’ in India, how Mines Minister failed to de-reserve the area by notifying in the official Gazette. Even areas reserved during 1960 is locked for last 60 years.
The list published by IBM is given below.
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