Government plans to replace 1957 mining law with comprehensive new legislation
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The government plans to replace the Mines and Minerals (Development and Regulation) Act, 1957, with new legislation.
- ✓An inter-ministerial committee will draft these rules to improve the ease of doing business.
- ✓Officials said the move aims to simplify the law, boost economic growth, and help achieve the vision of Viksit Bharat.
Story at a Glance
- Category
- BUSINESS
- Reported By
- mint
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
The government is considering a comprehensive overhaul of the Mines and Minerals (Development and Regulation) Act, 1957, to introduce a new mining law aimed at improving ease of doing business and ease of living in the country, according to news agency PTI, citing sources.
The Ministry of Mines administers the existing legislation, which serves as the principal central law governing the development and regulation of mines and minerals in India. The Act has been amended several times to address the evolving needs of the mining and minerals sector.
The proposed overhaul comes as the Centre seeks to simplify regulatory frameworks across sectors and improve the business environment. The mining sector is considered important for economic growth, technological progress, meeting the country's strategic requirements and achieving the government's vision of Viksit Bharat by 2047.
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