(DE-)NATIONALIZATION OF THE COAL SECTOR IN INDIA– A REGULATORY TRANSITION –
Keywords:
Abstract
: Coal is an exhaustible natural resource that India needs in umpteen amounts even as it is treading on the path of development. Be it for the ‘chulahs’ in our rural households or the ‘kangris’ in harsh winter regions or the key input in steel and cement industries, coal remains at the top of India’s energy requirement list. Nearly three decades post-independence, Government of India realized the importance of this scarce resource and initiated the nationalization of coal mines in the country, thereby giving shape to Coal India Limited. Among the various imperatives of nationalizing coal, one of the key factors was regulating the commercial extraction and proper utilization of different grades of coal available in the mines. Apart from this, entry of approved private firms were allowed to extract ‘captive’ mines allocated to them for specified end use purposes –like power generation, iron and steel manufacturing, cement production et al. Between 1973 and 2015, worried by a crippling shortage of domestically produced coal and recurring grievances raised by the dynamic private sector to extract coal commercially and efficiently, the Coal Mines (Special Provisions) Bill 2015 was promulgated to enable the private firms to independently mine coal for commercial purposes. This paper is an attempt to academically investigate the circumstances under which the nationalisation of coal sector in India in 1970s was being made;and to present a comparative picture of the targets as originally set forth with the achievements during the days of nationalization.It also discusses the causes and effects as well as the possible strategies the country should adhereto so that maximum benefits are reaped.
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