Railway and Coal Minister: Commercial mining for private sectors open

     Written by : SMTV24x7 | Tue, Feb 20, 2018, 11:28 PM

Railway and Coal Minister: Commercial mining for private sectors open

New Delhi, Feb 20: In the most significant move involving the Indian coal sector since its nationalisation in 1973, the Union Cabinet on Tuesday decided to end the monopoly status of state-miner Coal India Ltd (CIL) by opening commercial mining for the private sector.

Railway and Coal Minister Piyush Goyal told reporters here after a Cabinet meeting that it had approved the methodology for auctioning coal mines to private companies in order to bring efficiency into the sector.

"The government has taken several measures in the coal sector, which will enhance competition in the system, bring efficiency in coal production, reduce coal import, save foreign exchange and generate job opportunities for the people," Goyal said.