Discuss India's mineral development policy.

Q20. Discuss India’s mineral development policy. (20m)

India’s mineral development policy is designed to manage the country’s vast mineral resources sustainably and efficiently while balancing economic growth, environmental protection, and social welfare.

National Mineral Policy (NMP): India has periodically revised its National Mineral Policy to address changing needs and challenges in the mineral sector. The latest NMP was introduced in 2019 and includes the following key aspects:

Sustainable Development: The policy emphasises the sustainable development of mineral resources, ensuring their availability for future generations.
Mineral Exploration: The policy aims to attract private and foreign investment in exploration activities to identify new mineral reserves and reduce import dependency.
Value Addition: The NMP emphasises value addition within India by promoting downstream industries and reducing the export of raw minerals.
Transparency: Promoting transparency and accountability in mineral allocation and auctions is a central feature of the policy.
Community Development: The policy emphasises the welfare of communities affected by mining operations. A portion of mining revenues is allocated to local communities for their sustainable development. Additionally, the policy promotes the use of CSR funds for community development.
Environmental Regulations: Mining operations are required to obtain environmental approvals and comply with environmental safeguards.
Technology and Innovation: The policy encourages the adoption of modern mining technologies to improve efficiency, safety, and environmental performance. It also promotes research and development in the mineral sector.

Overall, India’s mineral development policy aims to strike a balance between economic growth and environmental and social considerations. It seeks to attract investment, promote sustainable mining practices, and ensure that mineral resources contribute to the country’s overall development while benefiting local communities and protecting the environment.

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