Government to set up an independent Coal Regulatory Authority
The Government has decided to set up an independent Coal Regulatory Authority.
Proposed role of the Coal Regulatory Authority:
- To specify by regulation methods of testing for declaration of grades or quality of coal.
- To monitor and enforce closure of mines as per approved mine project plan towards closure of mine.
- To ensure obedience of approved mining plans.
- To specify the principles and methodology for determination of price of raw coal and washed coal or any other by product generated during the process of washing.
- To call for information, record or other documents from the entities and publish statistics and other data in relation to the coal industry.
- Specifying the standards of performance and norms of operational efficiency except in the area related to mines safety.
- To adjudicate upon disputes between the parties and will also advise the Central Government in formulation of polices in coal sector, including allotment or earmarking of coal blocks for any purpose and promotion of competition, efficiency, economy and investment in coal industry.
Categories: Business, Economy & Banking
Tags: Current Affairs 2013