A call for segregation of bidders for Transparency in Mine Auctions

26 Mar 2024 CW Team

Stakeholders advocate for segregating committed bidders from others in mine auctions to address regulatory concerns. Gouranga Sen, Group Head of Economic & Policy Analysis at Vedanta Limited, stressed the importance of distinguishing serious participants from non-serious ones during a panel discussion at Economic Times Infra's Global Metals and Mining event in New Delhi.

Sen proposed shifting from progressive to single-stage bidding for mine auctions to differentiate serious and non-serious bidders.

According to Suresh Chandra Suman, director of mines at NLC India Limited, the policy shift towards auctioning mines has significantly enhanced transparency, benefiting states where mines are auctioned. The amendment to the Mines and Minerals (Regulation and Development) Act of 2015 mandated auctioning mineral concessions to ensure fairness in resource allocation.

Suman highlighted the auction process's positive outcomes, particularly in states like Jharkhand and Chhattisgarh. Addressing the debate on reverting to administrative allotment of mines, as was the practice before the regulatory reforms, Navneet Kumar, Head of Business Development & Operations at Skill Council for Mining Sector, advocated for continuing the auction process. He stressed the need for India, as a growing economy, to generate revenue through mine auctions.

Panel members underscored coal's continued significance as the most cost-effective energy source and prioritized sustainable extraction practices. V.K. Shukla, General Manager at Central Coalfields Ltd, projected India's annual coal production to reach 1.5 billion tonnes by 2030.

Infrastructure Transport

20 Aug 2025

Cabinet Clears Rs 15.07 Bn Greenfield Airport Project in Kota-Bundi

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the Airports Authority of India’s (AAI) proposal for the development of a Greenfield Airport at Kota-Bundi, Rajasthan, at an estimated cost of Rs 15.07 billion.Kota, located on the banks of the Chambal River, is widely recognised as the industrial capital of Rajasthan and a prominent educational coaching hub. To support the region’s growing needs, the Government of Rajasthan has handed over 440.06 hectares of land to AAI for the project.The new Greenfield Airport will be designed to handle oper..

Govt may extend MSME NPA classification period to 180 days

The Union government is considering a proposal to extend the non-performing asset (NPA) classification period for loans to micro, small and medium enterprises (MSMEs) from the existing 90 days to 180 days, according to a senior government official who requested anonymity.“The proposal to extend the loan default period for MSMEs from 90 days to 180 days is likely to be taken up by the Cabinet soon,” the official said.The move is expected to provide relief to cash-strapped MSMEs, especially against the backdrop of steep US tariffs, giving them more time to regularise their loan repayments.Ne..

FedEx, IIT Madras Launch SMART Centre for Sustainable, AI-led Logistics

FedEx has partnered with the Indian Institute of Technology (IIT) Madras to inaugurate the SMART Centre (Supply Chain Modelling, Algorithms, Research and Technology Centre) on the institute’s campus. The facility will drive innovation in sustainable and AI-driven logistics solutions. Backed by a five-year $5 million grant from FedEx, the SMART Centre aims to combine advanced research, digital technologies, and industry expertise to transform supply chains with a focus on agility, resilience, and environmental responsibility.The centre will also spearhead interdisciplinary projects in ar..