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India to notify 31 minerals as minor minerals

India government has decided to notify 31 additional minerals, presently under the list of major minerals, as minor minerals.

“This is being done with the intention to devolve more power to the States, and consequently, expedite the process of mineral development in the country,” Narendra Singh Tomar , Union Minister of Steel and Mines, said. The notification will be issued soon.

The Minister also announced that in order to strengthen the mineral inventory database of India, the government is planning to notify PSUs to carry out prospecting work. He further added that the Geological Survey of India (GSI), which was hitherto involved in G3 and G4 level of prospecting, has plans to scale up prospecting operations to G1 and G2 levels.

As opposed to major minerals, the regulatory and administrative jurisdiction of minor minerals falls under the purview of State governments. These include the powers to frame rules, prescribe rates of royalty, contribution to District Mineral Foundation, the procedure for grant of mineral concessions etc.

These 31 minerals account for over 55% of the total number of leases and nearly 60% of total leased area. Considering the extensive local outreach of States, this decision empowers States to customise regulatory framework to suit local conditions. This move is considered an important step in the fulfilment of ‘Minimum Government, Maximum Governance’ motto of the current government.
Source: Commodity Online