Addressing the event, PM Modi said India has taken the big decision to fully open the coal and mining sector for competition, capital, participation, and technology.
PM Modi said a major step has been taken today to make India self reliant in the Energy sector. He said the government is not only launching an auction for commercial coal mining, but also taking the coal sector out of decades of lockdown. He said allowing the private sector in commercial coal mining is unlocking resources of a nation with the world’s fourth largest reserves. He added that the sector was excluded from competition and transparency was a big problem.
The Prime Minister said the reforms in the coal sector are a great way to make Eastern and Central India, and the tribal belt the pillars of development. He said there are 16 aspirational districts in the country which have large reserves of coal but have not benefited the local people as much as they should have. He said reforms and investment in this sector will play a huge role in making lives easy for the poor and tribal people.
PM Modi said the commercial coal block auction is a win win for industry users. He said new resources will open up and states will get more revenue and employment.
PM Modi said India will overcome the Covid pandemic and the country will turn this crisis into opportunity. He said the pandemic has taught India the lesson of being self reliant.
PM Modi said all indicators are showing that Indian economy is ready to bounce back quickly and has moved forward.