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Coal India shares closed 5.63% higher at Rs304.05 on BSE, while the Sensex ended 0.26% higher at 34,443.19 points. Photo: AFP
Coal India shares closed 5.63% higher at Rs304.05 on BSE, while the Sensex ended 0.26% higher at 34,443.19 points. Photo: AFP

Boost in coal sector to give fillip to India's economy: Amit Shah

  • Launching a single-window clearance system for the coal sector, Shah also said that the move was an initiative of Prime Minister Narendra Modi in bringing transparency and transformation in India's coal sector

NEW DELHI : Union Home Minister Amit Shah on Monday said coal plays a key role in the country's economy and a boost in the sector will give a fillip to the Indian economy.

Launching a single-window clearance system for the coal sector, Shah also said that the move was an initiative of Prime Minister Narendra Modi in bringing transparency and transformation in India's coal sector.

"Coal sector plays a key role in our economy, a boost in the coal sector will directly boost India's economy. This platform will further our efforts by bringing huge investment and creating employment," he said.

The home minister said the single-window clearance system will ensure the process of obtaining clearances smooth for operationalisation of coal mines.

Shah said this was yet another manifestation of the prime minister's commitment towards bringing the transparency and transformation in India's coal sector.

He also congratulated Union Coal Minister Pralhad Joshi for his efforts to boost the sector. 

Shah said that the country has reached a position where the coal sector can be the biggest contributor towards the target of India becoming a USD 5 trillion economy by 2025.

He said despite having the world's fourth-largest coal reserves, India is importing coal and this is not right for the country.

Presently, about 19 major approval or clearances are required before starting a coal mine in the country.

In the absence of a unified platform for grant of clearances, the companies were required to approach different departments leading to delay in operationalisation of coal mines, Joshi said.

Now, the complete process will be facilitated through the single-window clearance portal in a phased way. PTI ACB KJ KJ

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