A seamless composite exploration-cum-mining-cum-production regime will be introduced in the mineral sector as the government brings in commercial mining in the coal sector, Finance Minister Nirmala Sitharaman said this evening, unveiling the government’s fourth tranche of Rs 20 lakh crore fiscal stimulus announced by Prime Minister Narendra Modi on Tuesday. Five hundred blocks of minerals will be auctioned “through open transparent mechanism” as a part of the production regime, she said. A joint auction of bauxite and coal blocks would be done to enhance the aluminium industry’s competitiveness, the Finance Minister said, adding that this will help the aluminium industry reduce electricity costs.
