The Indian Steel Association (ISA) welcomes the decision of the Cabinet to amend MMDR Act 1957 and Coal Mines (Special Provisions) Act 2015.
This is a huge reform announced by the Govt on commercial mining in Coal. This change in Act will help the country to reduce its dependence upon coal imports and help also attract investments from Indian and Global corporates.
The amendment removes the end-user restrictions besides allowing for seamless transfer of Environment and Forest clearance in operational mines. This will allow Continuity of all Forest and Environment clearances for a period of 2 years. This was a long pending reform which will make the Indian Steel industry more competitive on a global level.
The Centre has also approved gas grid for Northeast states and viability gap funding for Northeast grid. Viability gap funding for the North-East NG Pipeline Grid is a decision that shows the dedication of this government in encouraging growth in this region.
The Indian Steel Association would like to thank the government of India on these critical reforms.