Central Government draws aggressive mining exploration plans

After agriculture, mines and minerals sector can provide employment and also generate revenue on a large scale for the States, union Coal and Mines Minister Prahlad Joshi said.

Hyderabad: The union Coal and Mines Minister Prahlad Joshi said targets have been set to increase the contribution of mines and minerals sector from the current 0.9 per cent to 2.5 per cent to the nation’s GDP by 2030.

These targets would be achieved without impacting environment and through sustainable mining measures. The Coal and Mines Ministry was equally concerned about environment, he said here on Friday.

Addressing at the inaugural session of the two-day National Conference on Mining Ministers here, the union Minister said the meeting was organised to discuss measures to be taken up for achieving the ambitious target.

After agriculture, mines and minerals sector can provide employment and also generate revenue on a large scale for the States, he said and sought cooperation of State Governments in this regard.

On the reasons for PSUs surrendering 17 coal blocks across the country, the union Minister said most PSUs did not commence operations and feared losing bank guarantee.

However, after the Central Government assured that it would not encash the bank guarantee, PSUs surrendered the coal blocks. These blocks would be auctioned at the earliest, he explained.

This year, so far 52 auctions have been conducted successfully against the 208 auctions conducted since 2015. Further, State Governments would be extended financial assistance in taking up exploration involving private agencies in respective limits, he said.

Regarding the coal shortage faced by several States early this year, the union Minister said it was due to sudden increase in the demand. At this point, there were about 62 million tonnes of coal stocks available and shortage does not arise, he later said while speaking to media persons at the venue.

Hyderabad a historic city

Union Minister Prahlad Joshi said Hyderabad was a historic city and many leaders like Swamy Ramanand Theerth and Burugula Ramakrishna Rao had fought during the Indian freedom struggle.

Infact, the “Jai Hind” slogan was coined by a Hyderabadi Major Abid Hasan Safrani from the Indian National Army and close aid of Netaji Subhash Chandra Bose, he said, adding it was good to host the Ministers conference in the ‘City of Pearls’.