FM Announces A Host Of Reforms For Minerals And Mining Sector

The Finance Minister today announced a host of reforms for the minerals and mining sector. Among these include 500 mining blocks which would be offered and a joint auction for bauxite and coal blocks.

"The ministry of mines is in the process of developing a Mineral index for different minerals," the Finance Minister said.

The government will remove the difference between captive and non-captive mines. This will allow transfer of mining leases and sale of surplus minerals.

Apart from this, the Finance Minister also announced rationalisation of stamp duty payable at the time of award of mining leases. All these announcements were made as a part of the fourth tranche of the economic package.