Union Government Clears Private Commercial Mining In Coal
February 21st, 2018
In a major reform in the coal sector since its nationalization in 1973, the government allowed private companies to mine the fossil fuel for commercial use. This move ended the monopoly of state-owned Coal India Ltd. The decision was taken by the Cabinet Committee on Economic Affairs (CCEA) under the Chairmanship of PM Narendra Modi. Currently, the private sector is allowed coal mining for captive use only. The reform will bring efficiency into the coal sector by moving away from the era of monopoly to competition and lower power tariffs.