PM Modi chairs meet to discuss reforms in Mines and Coal Sectors hit by COVID-19

PM Narendra Modi on Thursday held a detailed meeting to discuss potential ecomic reforms in Mines and Coal Sectors to give a boost to ecomy in backdrop of COVID-19 pandemic. discussions involved ensuring easy and abundant availability of mineral resources from domestic sources, upscaling exploration, attracting investment and modern techlogy, to generate large scale employment through transparent and efficient processes.

discussions come amid a nationwide lockdown to curb spread of COVID-19 which has frozen ecomic activity and is poised to drag down already sputtering GDP growth. mining industry is particularly hard hit due to lockdown. Data released on Thursday showed coal sector growth at a meagre 4%.

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Topics for discussion

Among or things, auctioning of additional blocks, increasing production of mineral resources, reducing cost of mining and cost of transporting, encouraging wider participation in auctions, increasing ease of doing business while also reducing carbon footprint with environmentally sustainable development also formed an important part of discussions.

issues related to reforms in auction structure, efficient institutional arrangements, participation of private sector in exploration and mining, making public sector more competitive as well as broad-basing community development activities through Mineral Development Fund were also deliberated. Expanding and improving evacuation infrastructure for minerals including use of sea-routes for domestic supplies was also considered. 

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PM Modi also discussed aspects related to increasing efficient and environmentally sound first-mile connectivity for coal transport from mines to railway sliding, automatic loading on rail wagons, coal gasification and liquefaction, coal bed methane exploration were also discussed for potential reforms.

leader also reviewed contribution of mines sector in increasing employment opportunities and boosting growth. He laid a special focus on improving country's self-reliance in production of minerals and ir in-country processing. He added that mineral sector should benchmark its operations to international standards and advised m to prepare an action plan.

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