New Delhi, July 27: Central Government to Introduce Bills for Offshore Mineral Auctions and Decriminalization
The Central government is set to present two significant bills in the Lok Sabha on Thursday, aimed at ushering in crucial reforms. The first is the Offshore Areas Mineral (Development and Regulation) Amendment Bill, 2023, which seeks to permit the auction of minerals extracted from offshore areas.
The proposed amendment, to be introduced by Union Mines and Coal Minister Pralhad Joshi, aims to modify the existing Offshore Areas Mineral (Development and Regulation) Act of 2002. The current Act does not provide provisions for mineral auctions in offshore mining operations. Recognizing the potential of the auction route, the government has decided to introduce this amendment bill.
The primary objective of the bill is to facilitate the extraction of rocks beneath the seabed through a regulated auction process. Offshore mining has been constrained due to the absence of such auction mechanisms.
The Offshore Areas Mineral (Development and Regulation) Act was originally enacted in 2002, but its effective implementation has been hindered by unresolved legal disputes, preventing mining activities from commencing in the sea bed.
In addition to the Offshore Areas Mineral (Development and Regulation) Amendment Bill, the Central government will also strive to gain approval for the Jan Vishwas (Amendment of Provisions) Bill, 2022, in the lower house.
Having received clearance from the Union Cabinet and subsequently referred to a joint panel of Parliament, the Jan Vishwas Bill aims to amend certain existing laws to decriminalize and rationalize offenses. This legislative effort is geared towards fostering a governance framework built on trust, which, in turn, will enhance ease of living and doing business.
As these crucial bills are tabled in the Lok Sabha, the government endeavors to bring about transformative changes that would streamline the mining sector and promote a more conducive business environment, while also prioritizing good governance and public trust.
