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New Telangana mining policy on cards
In a move to spur economic activity in Telangana, the State government is bringing out an exclusive mining policy, which would target at mobilising Rs 10,000 crore per annum. The new mining policy, according to official sources, would showcase every district that possesses rich mineral resources as a destination for investments.
Govt to explore potential of all districts to boost economic activities
Hyderabad: In a move to spur economic activity in Telangana, the State government is bringing out an exclusive mining policy, which would target at mobilising Rs 10,000 crore per annum. The new mining policy, according to official sources, would showcase every district that possesses rich mineral resources as a destination for investments.
This first-of-its-kind mining policy is likely to be announced after Sankranthi festival. Under the policy, investors will be encouraged for exploration of minerals as well as the establishment of mineral-based industries.
The policy is being drafted based on the availability of the minerals in the State. A study conducted by the Telangana Mineral Development Corporation said barring Hyderabad, different mineral reserves had been identified in almost all the nine districts of Telangana State.
Sources told The Hans India that Adilabad was rich in manganese reserves and sufficient laterite and granite reserves were found in Nizamabad district. While Karimanagar was top in dolamite and basalt minerals, Warangal (iron ore), Khammam (iron ore and granite), Nalgonda (lime stone) and Medak and Ranga Reddy districts were rich in red clay, quartzite and laterite minerals.
The officials of the State Mining department said the policy would allow single window clearances for the exploration and the opening of mineral industries like the new industrial policy – TSiPASS under which the permissions to setup new industries are granted within a stipulated time.
The draft policy has been prepared, the officials said, adding that the policy would be more flexible than any other policies adopted by mineral rich States - Karnataka, Madhya Pradesh, Bihar, Jharkhand and Gujarat.
The objective of the government to introduce new mining policy is not only to encourage investments in mining sector but also increase revenues.
It is targeted to generated Rs 10,000 crore revenue through mining business every year and help the government to sustain all the development and welfare programmes in the coming years.
At present, the total revenue from mining was around Rs 3,000 crore only. This year, the government targeted Rs 3,500 crore including Rs 500 crore from sand mining.
So far, the Mining Department could generate only Rs 1,600 crore due to many hassles in granting permissions in the existing policy. Not a single mining lease was granted to mining companies this year, resulting the government losing crores of rupees as royalty.
