Economic Survey 2013: Mines mapping to be done before putting them up for bidding

The government has already sought Parliament8217;s approval to a new Mining Bill that envisages introduction of the competitive bidding process to encourage the participation of private parties in the sector.

The aim is to provide a simple and transparent mechanism for grant of mining lease or prospecting licence through competitive bidding in areas of known mineralisation and on first-in-time basis in areas where mineralisation is not known.

The Survey said that there should also be a transparent policy for the use of natural resources.

8220;Further,any policy prescription regarding the use of natural resources must ensure that the process of selection is fair,reasonable,nondiscriminatory,transparent and aimed at promoting healthy competition and equitable treatment,8221; it said.