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PM Modi launches auction process of 41 coal blocks for commercial mining

Published By : Admin | June 18, 2020 | 10:23 IST
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Prime Minister Shri Narendra Modi launched the auction process of 41 coal blocks for commercial mining through video conference from here today. It was part of the series of announcements made by the Government of India, under the AatmaNirbhar Bharat Abhiyan. The Coal Ministry in association with FICCI launched the process for auction of these coal mines. A two stage electronic auction process is being adopted for allocation of the coal mines.

Speaking on the occasion, Shri Narendra Modi said that India will overcome the COVID -19 Pandemic and the nation will turn this crisis into an opportunity. He said that this crisis has taught India the lesson of becoming AatmaNirbhar, i.e. Self-Reliant. He said an AatmaNirbhar Bharat means reducing dependency on imports, and saving foreign currency on imports. It entails that India develop resources domestically so that the country does not have to rely on imports. It also means becoming the biggest exporters of the commodities that we now import.

To achieve this, the PM said that each sector, each product, each service, should be kept in mind and worked holistically, to make India self-reliant in the particular area. He said a major step taken today will make India self reliant in the Energy sector. He said that this event marks not only the implementation of reforms concerning one Coal Mining Sector but also marks the beginning of lakhs of employment opportunities for the youth. He said that today we are not only launching the auction of commercial coal mining today but also freeing the coal sector from decades of lockdown.

He stressed the irony that India, with the world’s fourth largest coal reserve and being the second largest producer, is also the second largest coal importer. He said the situation has lasted for decades now and the coal sector was kept entangled in the mesh of Captive and Non Captive mines. He added that the sector was excluded from competition and transparency was a big problem. Owing to this, he said, the coal sector lacked investment and its efficiency was also questionable.

The Prime Minister said that in 2014, coal linkage was introduced to provide impetus to the coal sector. He said that India has taken a major decision to fully open the coal and mining sector for increased competition, capital, participation and technology. He added that care has been taken to ensure that the new players in the private mining sector do not face the problem of finance. He stressed that self-reliance is not possible without a strong mining and mineral sector as the two are important pillars of our economy.

The Prime Minister said that after these reforms, coal production and the entire coal sector will become self-reliant. Now the market has been opened for coal, so, any sector can buy coal as per their requirements. PM said, these reforms will not only benefit the coal sector but other sectors such as Steel, Aluminium, Fertilizers and Cement as well. It will also help in increasing the power generation.

PM said that reforms in the minerals sector have got strength from coal mining reforms since minerals like iron, bauxite and other minerals are located very close to the coal reserves. He said that the beginning of auction today for commercial coal mining is a win-win situation for all stakeholders Industries. State governments will get more revenue and a huge population of the country will get employment. There will be a positive impact on every sector.

While implementing coal reforms, PM said that it has been ensured that India’s commitment to protect the environment doesn’t get weakened. He added, “Latest technology can be introduced to make gas from coal and the environment will be protected with steps like coal gasification. Coal gas will be used in transport and cooking while Urea and steel will promote manufacturing industries.” The Prime Minister said that the Government has set a target to gasify around 100-million-ton coal by the year 2030 and four projects have been identified for this purpose and around 20 thousand crore rupees will be invested.

The Prime Minister said that these coal sector reforms will make eastern and central India, our tribal belt in, pillars of development. He added that These areas have a big number of Aspirational Districts and have not been able to reach the desired level of progress and prosperity. He said that 16 aspirational districts in the country have a huge stock of coal but people of these areas have not got adequate benefit of this. People from these places have to migrate to far-flung cities for employment.

The Prime Minister said that the steps taken towards commercial mining will be very helpful to eastern and central India by providing the local population with employment near their homes. He said that the Government has taken a decision to spend 50 thousand crore rupees on creating infrastructure for coal extraction and transportation, which will also create employment opportunities.

The Prime Minister said that reforms and investment in the coal sector will play a big role in easing the lives of tribals. Extra revenue generated through coal production will be used for public welfare schemes in the region. He said that states will also continue to get help from the District Mineral Fund, from which a major chunk would be utilized in development of essential facilities in the surrounding areas.

The Prime Minister said that this auction is taking place at a time when the economic activity is fast returning to normal. Consumption and demand are fast attaining the pre – Covid-19 levels. He listed the sectors where the demand was fast attaining pre-COVID 19 levels such as power consumption, demand for petroleum products, E way bills, Toll collection, Railway freight traffic, digital retail transactions.

He said that the rural economy has also started improving. He added that the crop area under Kharif cultivation and procurement of wheat has also increased this year. This means more money has gone into the pockets of farmers. All these indicators tell us that the Indian economy is ready to bounce back, and march forward.

The Prime Minister wished that India will come out of this crisis as it had come out of a much bigger crisis in the past. PM exuded confidence that India can become AatmaNirbhar and success and growth of India is certain. He also cited how few weeks ago how most of our demand for N-95 masks, Corona testing kits, PPE, and Ventilators were met by imports are now fulfilled through Make In India. He also expressed his confidence that very soon we will become an important exporter of medical products. He requested people to keep up their faith and morale so that we can make Aatmanirbhar Bharat. 

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Text of PM’s address at third edition of Kautilya Economic Conclave in New Delhi
October 04, 2024
Today, India is the fastest growing major economy:PM
Government is following the mantra of Reform, Perform and Transform:PM
Government is committed to carrying out structural reforms to make India developed:PM
Inclusion taking place along with growth in India:PM
India has made ‘process reforms’ a part of the government's continuous activities:PM
Today, India's focus is on critical technologies like AI and semiconductors:PM
Special package for skilling and internship of youth:PM

Finance Minister Nirmala Sitharaman ji, President of the Institute of Economic Growth N K Singh ji, other distinguished guests from India and abroad at the Conclave, ladies and gentlemen! This is the third edition of the Kautilya Conclave. I am delighted to have the opportunity to meet you all. There will be numerous sessions here, discussing various economic issues over the next three days. I am confident that these discussions will help accelerate Bharat’s growth.

Friends,

This Conclave is being held at a time when two major regions of the world are in a state of war. These regions are crucial for the global economy, especially in terms of energy security. Amidst such significant global uncertainty, we are gathered here to discuss ‘The Indian Era.’ This shows that trust in Bharat today is unique... It demonstrates that Bharat’s self-confidence is exceptional.

Friends,

Today, Bharat is the fastest-growing major economy in the world. Bharat is currently the fifth largest economy in terms of GDP. We are number one in terms of global fintech adoption rates. Today, we are number one in smartphone data consumption. We are the second largest internet user base globally. Nearly half of the world’s real-time digital transactions are taking place in Bharat today. Bharat now has the world’s third-largest start-up ecosystem. In terms of renewable energy capacity, Bharat is ranked fourth. When it comes to manufacturing, Bharat is the second-largest mobile phone manufacturer. Bharat is also the largest producer of two-wheelers and tractors. And not just that, Bharat is the world's youngest country. Bharat has the third-largest pool of scientists and technicians globally. Whether it’s science, technology, or innovation, Bharat is clearly in a sweet spot.

Friends,

By following the mantra of ‘Reform, Perform, and Transform,’ we are continuously making decisions to drive the nation forward at a rapid pace. This is the impact that has led the people of Bharat to elect the same government for the third consecutive time after 60 years. When people’s lives change, they gain confidence that the country is moving on the right track. This sentiment is reflected in the mandate of the Indian public. The trust of 140 crore citizens is a great asset for this government.

Our commitment is to continue making structural reforms to make Bharat a developed nation. You can see this commitment in the work we have done in the first three months of our third term. Bold policy changes, a strong commitment to jobs and skills, a focus on sustainable growth and innovation, modern infrastructure, quality of life, and the continuity of rapid growth are reflected in the policies of our first three months. During this period, decisions amounting to over 15 trillion rupees i.e. 15 lakh crore rupees have been made. In these three months alone, work on numerous mega infrastructure projects has begun in Bharat. We have also decided to create 12 industrial nodes across the country. Additionally, we have approved the construction of 3 crore new houses.

Friends,

Another notable factor in Bharat’s growth story is its inclusive spirit. It was once believed that with growth comes inequality. But the opposite is happening in Bharat. Along with growth, inclusion is also taking place in Bharat. As a result, 250 million i.e. 25 crore people have been lifted out of poverty in the last 10 years. Along with Bharat’s rapid progress, we are ensuring that inequality is reduced and that the benefits of development reach everyone.

Friends,

The confidence in Bharat’s growth predictions also shows the direction we are heading in. You can see this in the data from recent weeks and months. Last year, our economy performed better than any prediction. Whether it’s the World Bank, the IMF, or Moody’s, all have upgraded their forecasts for Bharat. All these institutions are saying that despite global uncertainty, Bharat will continue to grow at a 7+ rate. We Indians are confident that we will perform even better than that.

Friends,

There are solid reasons behind this confidence in Bharat. Be it manufacturing or the service sector, the world today sees Bharat as a preferred destination for investment. This is not a coincidence but a result of major reforms over the past 10 years. These reforms have transformed Bharat’s macroeconomic fundamentals. One example is Bharat’s banking reforms which have not only strengthened the financial conditions of banks but also increased their lending capacity. Similarly, the GST has integrated various central and state indirect taxes. The Insolvency and Bankruptcy Code (IBC) has developed a new credit culture of responsibility, recovery, and resolution. Bharat has opened sectors such as mining, defence, and space for private players and our young entrepreneurs. We have liberalized the FDI policy to create more and more opportunities for investors around the world. We are focusing on modern infrastructure to reduce logistics costs and time. Over the past decade, we have significantly scaled up investments in infrastructure.

Friends,

India has integrated process reforms into the government’s ongoing initiatives. We have eliminated over 40,000 compliances and decriminalised the Companies Act. Numerous provisions that previously made business operations difficult have been amended. The National Single Window System has been introduced to simplify the processes of starting, closing, and obtaining clearances for companies. Now, we are encouraging state governments to accelerate process reforms at the state level.

Friends,

To boost manufacturing in Bharat, we have introduced Production Linked Incentives (PLI), the impact of which is now visible across many sectors. Over the past three years, PLI has attracted investments of approximately ₹1.25 trillion (₹1.25 lakh crore). This has resulted in the production and sales amounting to about ₹11 trillion (₹11 lakh crore). Bharat's progress in the space and defence sectors is also remarkable. These sectors have only recently been opened up, yet more than 200 start-ups have already emerged in the space sector. Today, our private defence companies account for 20 percent of the country’s total defence manufacturing.

Friends,

The growth of the electronics sector is even more remarkable. Just 10 years ago, Bharat was a major importer of most mobile phones. Today, over 330 million or more than 33 crore mobile phones are manufactured in Bharat. In fact, no matter which sector you look at, there are exceptional opportunities for investors in Bharat to invest and earn high returns.

Friends,

Bharat is now also focusing on critical technologies such as AI and semiconductors, and we are investing significantly in these areas. Our AI mission will enhance both research and skills development in the AI field. Under the India Semiconductor Mission, investments totalling ₹1.5 trillion (₹1.5 lakh crore) are being made. Soon, five semiconductor plants in Bharat will begin delivering 'Made in India' chips to every corner of the world.

Friends,

You are all aware that Bharat is the leading source of affordable intellectual power. A testament to this is the presence of more than 1,700 global capability centres of companies from around the world operating in India today. These centres employ over two million i.e. 20 lakh Indian youth, who are providing highly skilled services to the world. Today, Bharat is placing an unprecedented focus on maximising this demographic dividend. To achieve this, special attention is being devoted to education, innovation, skills, and research. We have introduced a significant reform in this area with the implementation of the New National Education Policy. In the past 10 years, a new university has been established every week, and two new colleges have been opened each day. During this period, the number of medical colleges in our country has doubled.

And friends,

We are focusing not only on expanding access to education but also on improving its quality. As a result, the number of Indian institutions in the QS World University Rankings has more than tripled over the past decade. In this year's budget, we announced a special package for skilling and interning millions of young people. Under the PM Internship Scheme, 111 companies registered on the portal on the very first day. Through this scheme, we are supporting 1 crore youth with internships at major companies.

Friends,

Bharat's research output and patent filings have also seen rapid growth in the past 10 years. In less than a decade, Bharat has risen from 81st to 39th in the Global Innovation Index rankings, and we aim to advance further. To bolster its research ecosystem, India has also created a research fund worth ₹1 trillion.

Friends,

Today, the world has high expectations from Bharat regarding a green future and green jobs, and there are equally significant opportunities for you in this sector. You all followed the G20 Summit held under Bharat's presidency. One of the many successes of this summit was the renewed enthusiasm for the green transition. During the G20 Summit, the Global Biofuel Alliance was launched at Bharat's initiative, and G20 member countries strongly supported Bharat's development of green hydrogen energy. In Bharat, we have set a target to produce 5 million tonnes of Green Hydrogen by the end of this decade. We are also advancing solar power production at the micro level.

The Government of India has launched the PM Surya Ghar Free Electricity Scheme, a large-scale Rooftop Solar Scheme. We are providing funding to every household for setting up rooftop solar systems and assisting with solar infrastructure installation. So far, more than 13 million i.e. 1 crore 30 lakh families have registered for this scheme, meaning these households have become solar power producers. This initiative will save an average of ₹25,000 per family. For every three kilowatts of solar power generated, 50-60 tonnes of carbon dioxide emissions will be prevented. This scheme will create approximately 1.7 million (17 lakh) jobs, producing a vast workforce of skilled youth. Therefore, numerous new investment opportunities are emerging for you in this sector as well.

Friends,

The Indian economy is currently undergoing a significant transformation. With strong economic fundamentals, India is on a path of sustained high growth. Today, Bharat is not only striving to reach the top but is also making concerted efforts to stay there. The world today offers immense opportunities across every sector. I am confident that your discussions will provide many valuable insights in the days to come.

I am confident that in the coming days, many valuable insights will emerge from your discussions. I extend my best wishes for this endeavour, and I assure you that this is not merely a debating forum for us. The discussions that take place here, the points raised, the do's and don'ts—those that prove beneficial—are diligently integrated into our governmental system. We incorporate them into our policies and governance. The wisdom you contribute during this churning process is what we utilise to shape a brighter future for our country. Your participation is, therefore, of immense importance to us. Every word you offer holds value for us. Your thoughts, your experience—they are our assets. Once again, I thank you all for your contribution. I also congratulate N. K. Singh and his entire team for their commendable efforts.

With warmest regards and best wishes.

Thank you!