Agartala: Mar 12: Biplab Kumar Deb, a Member of Parliament from Tripura, recently raised a concern in the Lok Sabha regarding the auction system for mineral resources. He highlighted the positive impact of this system on states, particularly in terms of financial benefits and employment opportunities. Deb emphasized that the auction process has been a game-changer for the country, encouraging greater economic activity and providing significant revenue to both state governments and private sector companies.
In response, Union Minister for Mines G. Kishan Reddy praised the reforms introduced by the Narendra Modi-led BJP government, highlighting the introduction of the auction system as a significant change in the mineral resources sector. Reddy noted that this system has benefited every state in the country, ensuring a fair and transparent method of allocating mineral resources, which has directly translated into financial gains for the states.
The auction system has generated an impressive ₹6 lakh crore in revenue for states across India, bolstering state coffers and creating numerous employment opportunities, particularly in the mining and associated industries. This increased efficiency and transparency in the allocation of mineral resources have resulted in a more robust mining sector, contributing significantly to the country’s overall economic development .
