Ministry of Coal decriminalises 68 provisions of Mineral Concession Rules, 1960

The Ministry of Coal has amended Mineral Concession Rules, 1960 (MCR) with a view to decriminalise its provisions.

MCR regulates the application and grant of mineral concessions such as reconnaissance permit, prospecting license, and mining lease. These concessions are pre-requisites for development and operationalisation of mines entailing several compliances on the part of businesses. Government has been taking initiatives for reducing compliances for business and citizens. To further promote and boost the ease of doing business policy of the government, the amendment in MCR decriminalised 68 provisions whereas penalty has been reduced for 10 provisions of MCR. Express provision has been introduced for adjustment of additional or shortfall royalty. Further, rate of penal interest on delayed payment of rent, royalty, fee, or other sums due to the government has been reduced from 24 per cent to 12 per cent. It is expected that these provisions will afford the much-required economic relaxations in the coal mining sector.