The Union Cabinet on Wednesday approved the promulgation of Mineral Laws (Amendment) Ordinance 2020, which would provide for allocation of coal blocks for composite prospecting license-cum-mining lease.
The Ordinance will amend Mines and Minerals (Development and Regulation) Act 1957 and Coal Mines (Special Provisions) Act 2015.
It would also do away with the requirement of previous approval in cases where allocation of blocks was made by the Centre.
According to the government, the move would speed up the process of implementation of projects, ease of doing business, simplification of procedure and benefit all the parties in areas where minerals are located.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
