Union Mines & Steel Minister urges the mining industry To Spend 10% Of Their Profits On Mineral Exploration.
India CSR News Network
RAIPUR: Minister of Mines & Steel Narendra Singh Tomar today urged the mining industry to allocate 10 per cent of their profits to mineral exploration, so that truyyuye potential of India’s mineral resources can be harnessed. All stakeholders must work together to increase the share of mining in GDP from present 2.4% to 6%. PMKKKY will ensure that the benefits of this growth reach the rightful owners of the mineral wealth, who are poorest of the poor living in mining areas.
He was addressing the two days National Conclave on Mines & Minerals in Raipur today.
During the function, Finance Minister Arun Jaitley inaugurated 5 pilot projects to be implemented under Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY) at the conclave.
The onclave is being attended by stalwarts from mining industry and academia. The beneficiaries of the projects joined in the projects joined in the inaugural programme via video-streaming from Dantewada.
In his address Jaitley commended the changes in policy and legislation brought in the mining sector in past two years. These have strengthened the mining industry and paved way for employment generation, development of mining affected areas and welfare of people living in mining areas.
Indian economy is bucking the global trend by registering more than 7 per cent GDP growth. When the downtrend in global commodity reverses, mining industry will benefit the most. Steps being taken to explore the resources will further boost the growth of mines and minerals industry. Chhattisgarh state is a example of what a growing mining sector can do for a state.
Chhattisgarh has taken lead in implementing the mining reforms ushered in by the central government and deserves compliments for the same. MMDR Amendment Act has introduced revolutionary changes which have led to end of the era of corruption, nepotism and favouritism.
The exploration will now be of international standards using state of the art technologies, for harmonious and balanced use of resources. Successful auction of mineral blocks, 9% growth in production of major minerals and participation in large numbers in this first-of-its-kind National conclave, are all indicators of a transformed and vibrant mining sector in India.
Chief Minister, Chhattisgarh Dr. Raman Singh said that the state plans to complete mapping of whole area in coming three years. Chhattisgarh govt. has taken a decision that all expenses on higher education of children living in mining areas shall be borne by the state.