Cabinet comes forward to boost the sectors

Private units can chip in mining auction

The mining stocks of Ashapura Minechem, Maithan Alloys, Sandur Manganese, Iron Ores, Indian Metals and Ferro Alloys surged from 5 per cent to 15 per cent after the Union Cabinet cleared a National Mineral Exploration Policy to allow private companies to carry out standalone exploration.

The new policy is set to pave the way for auction of 100 prospective mineral blocks. Apart from the notified agencies, Government urges to involve private entities in exploration through e-auction which will be equal to all and identified by the state government.Post exploration the private explorer will submit data and will be subsequently auctioned by the state government. The owner shall pay the royalty to the state government and also the private explorer. The explorers are already fetching 2 per cent of such royalty which will increase to the amount equal to the royalty.

The states would also explore higher area for mining which is just 10 per cent for now; out of which only 1.5-2 per cent has been mined so far.

Now get what you want 24*7

Another task taken up by the Cabinet is clearance of Shops and Establishment Act wherein the public places like theatres, restaurants, shops, banks etc., will be allowed to operate 24*7.The act will enable female employees to work with mandatory pick and drop services and other allied facilities.

The act will be implemented on the approval of the states after the states alter their laws governing the functioning of such work places. The units with more than 10 employees will be prospective places for the Act.