MUMBAI: Metal companies have welcomed the slew of measures announced by the finance minister towards coal and mineral sectors, calling it a bold step towards reviving the industry that’s been severely hit due to the ongoing Covid-19 crisis.
“All these steps will not only improve the ease of doing business, but also significantly contribute to the global competitiveness of the metals and mining industry,” said HindalcoNSE -3.56 %’s managing director, Satish Pai.
Finance minister Nirmala Sitharaman on Saturday while announcing the fourth tranche of the Rs 20 trillion stimulus package, said that India will open up commercial mining with revenue sharing agreement. She also added that there will be further reforms in the mineral sector, with no distinction between the captive and non-captive mines that will allow transfer of mining leases.
