New mineral policy under process

Q.  The Centre aims to introduce a national mineral exploration policy promoting private investment in the sector apart from _______________.
- Published on 30 May 16

a. Boosting Exploration
b. Maintaining balance between environment and mining
c. Mineral exploration in time bound manner
d. Both a and c
e. None of the above

ANSWER: Boosting Exploration
 
New mineral policy has been initiated to bring private investment in sectors other than boosting exploration, according to Union Ministry of Mines. Private investment will be promoted in mineral exploration to be done in a timely manner. The state government has now been asked to focus on exploration with a balance between mining and the environment
  • Aim is that environment should be protected and exploration should be enhanced
  • Mining is the second biggest sector after agriculture in India
  • It contributes 2.4 percent in GDP
  • Government has also amended the Mines and Minerals (Development and Regulation)Act and abolished discretionary powers of the Centre and the states.
  • Mines are currently auctioned through a process that makes it transparent and increases revenue

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