The Lok Sabha has cleared amendment of Mines and Minerals Development and Regulation Act (India) (MMDR) of 1957.
Currently Coal blocks for PSU (public sector unit) and private sector companies are not allocated through bidding process. A screening committee approves the blocks. This will change and now there will be competitive bidding process.
PSUs are kept outside of bidding process like Coal India. Coal Blocks will be developed faster as new players will pay premium based on bidding.
26 blocks are fully developed out of 206 allotted till now.
