Promotion of Mineral Based Industries.
Mineral Revenue and assessments
Imposition of penalties on illicit mining, transportation and storage.
Mineral Rights
Under the federal constitution of the India, Mineral Rights are
being vested with the state and state is wholly responsible for judicial
exploration, exploitation, development, conservation, environment, safety and
promotion of Mineral based Industries.
Mineral Acts and Rules
Mineral Regulations are being governed by the Mines and Minerals
(Development and Regulation) Central Act 1957. Mineral Concession Rules 1960.
Mineral Conservative & Development Rules 1988. Mines Act, Coal Act, Oil and
Natural Gas Rules, Safety Rules, Forest Conservation Act 1980, Environment
Protection Act 1986, Andhra Pradesh Minor Mineral Concession Rules 1966,
Granite conservation and development rules 1999, Mineral dealer rules 2000 and
the rules framed thereunder.
National Mineral Policy
In line with liberalisation and globalisation of India's
economy, a new mineral policy was formulated in 1993. This policy marks a
watershed in the history of development in the mineral sector in India. This
policy recognises the need for encouraging private investment both domestic and
foreign and the induction of state-of-the-art technology in the Mines and
Mineral sector. Under this policy, all the 13 minerals (Iron Ore, Manganese
Ore, Chrome ore, Sulphur, Diamond, Gold, Zinc, Copper, Lead, Molybdenum,
Nickel, Platinum group, Tungsten ore) which were earlier reserved for public
sector were open for exploration and exploitation by the private sector. Thus,
the entire mining sector except for atomic minerals is now open for private
investment including foreign investment.
Liberalized National Mineral Policy 1993 was brought out to
integrate the Indian Mineral Industry with the Global Mineral Industry and aims
to encourage Inflow of Private investment both domestic and foreign Technology
transfer/ Upgradation to improve productivity and Scientific working
Policy on Foreign Direct Investment
The mining sector was opened to foreign direct investment(FDI)
in 1993, initially all proposals were considered on a case to case basis by
Foreign Investment Promotion Board (FIPB), later FDI policy in the mining
sector was further liberalized, which opened up an "Automatic approval" route
for investments involving foreign equity participation upto 100 percent except
for Diamonds and precious stones.
State Mineral Policy
State Mineral Policy aims at optimum exploitation, scientific
development, value addition, marketing and exports under private and joint
sectors. Mineral Sector, Cement & Jewellery Sectors are identified as
Thrust areas in the New Industrial Policy; brought out simplified entrepreneur
friendly structural changes in the State Mineral Policy, decentralized,
deregulated & introduced Prefixed Time frame in the processing of Mineral
Concessions at each level for faster implementation of projects. The Govt. has
thrown the Mineral sector open for private investment and likes to withdraw
from areas in which their presence is no longer required and disinvest from
these public sectors. State Investment Promotion Board Created to facilitate
the entrepreneurs to get single window clearance for all the mineral Projects
under the Chairmanship of Chief Minister. Any Mineral Project filled under are
circulate simultaneously to all the departments and decision is made within 4
weeks.
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