Decision on opening of coal mining is progressive and a sign of continued reform: ASSOCHAM

Wednesday, January 08, 2020

New Delhi, 08th January 2020
: The decision to open up commercial mining for private sector is a major reform that can attract both domestic and foreign investment in the vital energy sector of the economy that will reduce India's dependence on imported coal, providing assured fuel supply to power generating firms and saving the country's foreign exchange bill, ASSOCHAM.
 
'' The fact that the enabling amendment in the MMDR Act is being done through an Ordinance shows the government wants to pursue reforms with urgency and sets up the direction of the forthcoming budget. Besides, the move would result in higher coal output with the induction of the modern technology and help the power generating companies to get assured fuel supply," said the ASSOCHAM.
 
Commenting on another major Cabinet decision, Deepak Sood, Secretary General, ASSOCHAM said, strategic disinvestment in Neelachal Ispat is a good decision as this is likely to get interest and response from Global and Indian Companies. Strategic Sales that helps Government raise funds at right price allows the Government to focus on key social sectors of health and education.
 
ASSOCHAM also notes how the decision to grant the viability gap funding to Rs 9265 crore North East Gas Grid project would provide a boon to the clean fuel infrastructure for the North Eastern states.
 
 
About ASSOCHAM:
ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. It was established by promoter Chambers, representing all regions of India. Having in its fold over 400 Chambers and Trade Associations, and serving over 4.5 lakh members across India. ASSOCHAM has emerged as the fountainhead of Knowledge for Indian industry, which is all set to redefine the dynamics of growth and development in the Knowledge Based Economy. More information available on www.assocham.org
 
For further details, please contact:
 
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AVDHESH SHARMA         
ASSOCHAM
ASSOCHAM
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