Parliament passes Coal Mines (Special Provisions) Bill, 2015

Parliament has passed Coal Mines (Special Provisions) Bill, 2015. It was first passed in Lok Sabha on 4 March 2015 and later in Rajya Sabha on 20 March 2015.
This bill will replace the Coal Mines (Special Provisions) second ordinance, 2014.
Key highlights of Bill

• The bill has provisions for allocation of coal mines through a transparent bidding process i.e e-auction.
• The e-auction of coal blocks will ensure the continuity in coal mining operations and promoting optimum utilization of coal resources.
• The bill also facilitate e-auction of coal blocks for private companies for captive use and allot mines directly to state and central Public Sector Undertakings (PSUs).
• It has provisions that propose strong measures for rehabilitation and compensation for displaced persons.
• The bill also provides for vesting of the right, title and interest over the land and mine infrastructure together with mining leases to successful bidders.

Month: Current Affairs - March, 2015