Coal news and updates

Bill to Auction Mines Passed in Rajya Sabha

Hours before Parliament breaks for a month-long recess in the Budget session, the Mines and Minerals Bill was passed by the Rajya Sabha, with the government managing to swing the support of some opposition parties.

The bill, part of key reforms in the government's economic agenda, seeks to introduce a system of auction for mines that supply minerals like iron ore and bauxite. Parliament's approval is a thumbs-up for Prime Minister Narendra Modi's bid to kickstart an industry that has languished for years.

117 members of the Upper House voted for the Bill today, 69 voted against. Two abstained. Minutes before passing the Bill the House voted down a proposal by the Left that it be sent to a Parliamentary committee again for review.

The Bill will now be taken up by the Lok Sabha, where the BJP-led government enjoys an overwhelming majority. The government is in abject minority in the Rajya Sabha and needs the help of Opposition parties to pass bills.

The Trinamool Congress, Samajwadi Party, Bahujan Samaj Party and Nationalist Congress Party voted on the government's side today.  They are also expected to help pass a bill to auction coal mines later on Friday.

The Janata Dal (United) walked out. The Congress and the Left voted against the Mines Bill.
 
"All our concerns in the Bill have been addressed," Trinamool Congress MP Derek O'Brien had told NDTV on Thursday, just after the Rajya Sabha adjourned for the day after a marathon sitting till late in the evening.
 
The break in Opposition unity appears to be a result of the increased revenue that state governments will mop up after the bill is passed. The parties that supported the Mines Bill today had on Tuesday marched along with the Congress and the Left to protest against the government's other key reform, the land acquisition bill.   

The mines bill, like the land bill and coal bill, ratifies an ordinance or temporary executive order that will lapse on April 5. Another key reform, the Insurance Bill was passed in the Rajya Sabha with the support of the Congress.
 
source: http://www.ndtv.com