National Mineral Policy 2019
Recently the Union Cabinet approved the ‘National Mineral Policy 2019’.
What the policy aims at?
a) NMP 2019 aims at a more effective, meaningful, transparent regulation of the mining sector of the country.
b) It aims to balance social and economic growth as well as promote sustainable mining practices.
c) It aims to strengthen regulatory mechanism by incorporating E-Governance, including satellite and remote sensing applications.
d) It aims to promote ‘Make in India Initiative’ and gender sensitivity in the mining sector.
Which are the key provisions of the policy?
a) Introduction of Right of First Refusal for Reconnaissance Permit (RP) and Prospecting License Holders.
b) Encouraging the private sector to take up exploration.
c) Encouragement of merger and acquisition of mining entities and transfer of mining leases.
d) Creation of ‘Dedicated mineral corridors’ to boost private sector mining areas.
f) Status of industry to mining activity to boost financing of mining for private sector and for acquisitions of mineral assets in other countries by private sector
g) Long-term import-export policy for mineral
h) Auction and rationalization of the unutilized reserved areas given to Public Service Utilities
i) Harmonization of taxes, levies & royalty with world benchmarks to help private sector.
j) Establishment of National inventory of mineral resources and Mining Tenement System (MTS).
Who manages mineral resources in the country?
Management of mineral resources is the responsibility of both the central and state governments under the Union List and the State List of the 7th Schedule of the Constitution of India.
How is the new policy different from the old policy?
a) National Mineral Policy 2019 has replaced the ‘National Mineral Policy 2008’ by introducing some changes.
b) Online public portal with provision for generating triggers at a higher level in the event of a delay of clearances has been put in place.
c) The policy focusses on the use of coastal waterways and inland shipping for evacuation and transportation of minerals.
d) It aims to enhance the utilization of the district mineral fund for the equitable development of project affected persons and areas.
e) It introduces the concept of Inter-Generational Equity that deals with the well-being not only of the present generation but also of the generations to come.
f) It proposes to constitute an Inter-ministerial body to institutionalize the mechanism for ensuring sustainable development in mining.
Where will the policy have a positive impact?
a) It will ensure more effective regulation.
b) It will lead to sustainable mining sector development in the future.
c) It will address the issues of project affected persons especially those residing in tribal areas.
d) It will increase the share of the manufacturing sector in the economy.
e) Successful Implementation of the policy can increase the production of minerals by 200% in 7 years.
f) It may reduce the trade deficit in the minerals sector by 50% in 7 years.
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