Published 19:13 IST, June 26th 2020
Mamata Banerjee writes to PM Modi; shares reservations over FDI in Coal Mining
West Bengal Chief Minister Mamata Banerjee wrote to Prime Minister Narendra Modi over her reservations on the Centre's allowance of 100% FDI
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West Bengal Chief Minister Mamata Banerjee wrote to Prime Minister Narendra Modi over her reservations on the Centre's allowance of 100 percent Foreign Direct Investment(FDI) in coal mining, associate processing, and selling of coal. The Chief Minister was of the opinion that the Prime Minister should intervene and reconsider the decision for the general good of all.
“At the time when the world’s largest coal mining company Coal India Limited(CIL) is producing 8-% of our coal with Profit Before Tax of Rs.27000 crore(2018-19) and holding a Reserve of Rs.31,000 crore, the decision of Central government to relax FDI restrictions demeans the capability of CIL . Moreover allowing 100% FDI in Coal for MNCS will carry a wrong message as it would contradict the very essence of ‘Atmanirhar Bharat’ and would also kill the vision of self-reliant policy that we have been following since beginning." read CM Banerjee's letter to PM Modi's Delhi office.
The letter questions Central Government's "Atmanirbhar Bharat" scheme
The West Bengal Chief Minister also stated that moving the desk offices of four subsidiary companies of Coal India Limited from Kolkata to their respective headquarters in other areas will be extremely detrimental to the interests of all stakeholders of the coal sector.
Her displeasure was imminent when she termed the decision 'abrupt' to shift the desk office of four of its subsidiary companies - Bharat Coking Coal Ltd, Central Coalfields Ltd, South Easter Coalfields Ltd and Mahanadi Coalfields Ltd from Kolkata to their respective headquarters.
The letter questions Central Government's "Atmanirbhar Bharat" scheme wherein, indigenous products and functioning would be boosted. Miss Banerjee spoke of how a 100 percent FDI in Coal would be contradictory to the essence of "Atmanirbhar Bharat."
Updated 19:13 IST, June 26th 2020