According to Prahlad Joshi, the union coal and mines minister, target numbers have been set to increase the sector’s GDP contribution by 2030 from 0.9% to 2.5 percent.
Through sustainable mining measures, these targets would be achieved without affecting the environment. It was equally important to the Coal and Mines Ministry to protect the environment, he said here on Friday.
He said the meeting was convened to discuss measures to be taken for achieving the ambitious target during the inaugural session of the two-day National Conference on Mining Ministers here.
Besides agriculture, the mines and minerals sector can generate significant revenue and employment for the States, he said, urging their cooperation.
He said most PSUs did not begin operations and feared losing bank guarantees, which led them to surrender 17 coal blocks across the country.
After the Central Government assured the PSUs it would not encash the bank guarantee, the coal blocks were surrendered. He explained that the blocks would be auctioned as soon as possible.
In contrast to the 208 auctions conducted since 2015, 52 auctions have been successful this year. The State Governments will also receive financial assistance for involving private agencies in exploratory activities, he said.
The coal shortage experienced by several states earlier this year, according to the union Minister, was caused by a sudden increase in demand. At this point, there are approximately 62 million tonnes of coal stocks available, and there is no shortage, he later stated while speaking to media members at the venue.
City of Pearls
Union Minister Prahlad Joshi said that Hyderabad is a historic city where many leaders such as Swamy Ramanand Theerth and Burugula Ramakrishna Rao fought during India’s freedom struggle.
In fact, the slogan “Jai Hind” was coined by a Hyderabadi Major Abid Hasan Safrani of the Indian National Army, a close friend of Netaji Subhash Chandra Bose, he said, adding that it was fitting to hold the Ministers’ conference in the “City of Pearls.”
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