Today's Headlines - 01 August 2023
Lok Sabha passes MMDR Amendment bill
GS Paper - 2 (Polity)
The Mines and Minerals (Development and Regulation) Amendment Bill, 2023 was taken up for consideration and passed by the Lok Sabha. This bill proposes to empower the Central government to exclusively auction mining lease and composite licence for 26 critical minerals in the country.
More about the Amendment
This amendment to the Mines and Minerals (Development and Regulation) Act, 1957, “would facilitate, encourage and incentivise private sector participation in all spheres of mineral exploration for critical and deep-seated minerals”. Under the existing framework, state governments auction mining blocks.
Even in case of conduct of auction by the central government, the mineral concession shall be granted to the selected bidders by the state government only and the auction premium and other statutory payments shall accrue to the state government.
According to the statement of objects and reasons for the bill, it would help hasten the pace of auction and early production of critical minerals such as lithium, cobalt, and graphite that are crucial for electric vehicles and batteries.
Nickel, platinum, and tin-bearing minerals are also among the 26 that are proposed to be brought under the ambit of the central government.
This would be the Fifth Amendment to the MMDR Act since 2014. Earlier changes included mandating e-auction for mineral resources, and allowing extension of mining leases which were expiring.
#upsc #news #loksabha #MMDR #amendnent #bill #polity #mines #minerals #development #central #goverment #critical #goverments #statutory #exploration #lithium #cobalt #grapite #nickel #platinum #resources #leases #private #sector
Lok Sabha passes MMDR Amendment bill
GS Paper - 2 (Polity)
The Mines and Minerals (Development and Regulation) Amendment Bill, 2023 was taken up for consideration and passed by the Lok Sabha. This bill proposes to empower the Central government to exclusively auction mining lease and composite licence for 26 critical minerals in the country.
More about the Amendment
This amendment to the Mines and Minerals (Development and Regulation) Act, 1957, “would facilitate, encourage and incentivise private sector participation in all spheres of mineral exploration for critical and deep-seated minerals”. Under the existing framework, state governments auction mining blocks.
Even in case of conduct of auction by the central government, the mineral concession shall be granted to the selected bidders by the state government only and the auction premium and other statutory payments shall accrue to the state government.
According to the statement of objects and reasons for the bill, it would help hasten the pace of auction and early production of critical minerals such as lithium, cobalt, and graphite that are crucial for electric vehicles and batteries.
Nickel, platinum, and tin-bearing minerals are also among the 26 that are proposed to be brought under the ambit of the central government.
This would be the Fifth Amendment to the MMDR Act since 2014. Earlier changes included mandating e-auction for mineral resources, and allowing extension of mining leases which were expiring.
#upsc #news #loksabha #MMDR #amendnent #bill #polity #mines #minerals #development #central #goverment #critical #goverments #statutory #exploration #lithium #cobalt #grapite #nickel #platinum #resources #leases #private #sector
Today's Headlines - 07 August 2023
Draft National Deep Tech Startup Policy
GS Paper - 3 (Economy)
The office of the Principal Scientific Adviser to the Government put out a draft National Deep Tech Startup Policy (NDTSP) for public comment, following two versions that were iterated at high levels with other government departments, academia and stakeholder firms. The policy seeks to “ensure India’s position in the global deep tech value chain,” in areas such as semiconductors, Artificial Intelligence (AI) and space tech.
More about the Policy
The policy seeks to bolster research and development in deep tech start-ups, which work on fundamental and technical problems, unlike firms that monetise technology with distinguished business models.
The policy also seeks to find approaches to provide financing to deep tech start-ups at critical moments, such as before they go to market with their products or ideas.
Additionally, the policy seeks to simplify the intellectual property regime for such start-ups, ease regulatory requirements, and proposes a slew of measures to promote these firms.
For instance, the NDTSP suggests that an Export Promotion Board be created to ease barriers of entry for Indian deep tech start-ups into foreign markets and those clauses to ease such market access be included in foreign trade agreements.
The policy also includes resource-intensive policy approaches to attract global talent, such as offering “networking opportunities to international deep tech startups and experts interested in relocating and contributing to the local ecosystem.
Since expertise and regulatory overview of different aspects of deep tech and its supply chains are under different Ministries, the policy suggests the creation of an “Inter Ministerial Deep Tech Committee” to regularly review the requirements of enabling the deep tech ecosystem to function better.
International agreement
The policy restates the government’s disappointment with international agreements that it argues have left India on the backfoot in terms of manufacturing and development power.
India’s experience with some aspects of international cooperation has had a deleterious effect on the domestic ecosystem. A key example of this is the Information Technology Agreement-I that India joined in 1997.
The policy calls for a more multi-pronged approach to protect Indian interests. The need of the hour is a coordinated, comprehensive push to optimally engage with international partners and multilateral institutions to push the Indian Deep Tech Ecosystem, the policy says.
#upsc #news #headline #Draftnational #Deeptech #Startup #policy #economy #principal #scientific #adviser #NDTSP #global #AI #semiconductors #artificial #intelligence #spacetech #fundamental #technical #technology #monetise #critical #property #resource #networking #indian #internationalagreement #ecosystem
Draft National Deep Tech Startup Policy
GS Paper - 3 (Economy)
The office of the Principal Scientific Adviser to the Government put out a draft National Deep Tech Startup Policy (NDTSP) for public comment, following two versions that were iterated at high levels with other government departments, academia and stakeholder firms. The policy seeks to “ensure India’s position in the global deep tech value chain,” in areas such as semiconductors, Artificial Intelligence (AI) and space tech.
More about the Policy
The policy seeks to bolster research and development in deep tech start-ups, which work on fundamental and technical problems, unlike firms that monetise technology with distinguished business models.
The policy also seeks to find approaches to provide financing to deep tech start-ups at critical moments, such as before they go to market with their products or ideas.
Additionally, the policy seeks to simplify the intellectual property regime for such start-ups, ease regulatory requirements, and proposes a slew of measures to promote these firms.
For instance, the NDTSP suggests that an Export Promotion Board be created to ease barriers of entry for Indian deep tech start-ups into foreign markets and those clauses to ease such market access be included in foreign trade agreements.
The policy also includes resource-intensive policy approaches to attract global talent, such as offering “networking opportunities to international deep tech startups and experts interested in relocating and contributing to the local ecosystem.
Since expertise and regulatory overview of different aspects of deep tech and its supply chains are under different Ministries, the policy suggests the creation of an “Inter Ministerial Deep Tech Committee” to regularly review the requirements of enabling the deep tech ecosystem to function better.
International agreement
The policy restates the government’s disappointment with international agreements that it argues have left India on the backfoot in terms of manufacturing and development power.
India’s experience with some aspects of international cooperation has had a deleterious effect on the domestic ecosystem. A key example of this is the Information Technology Agreement-I that India joined in 1997.
The policy calls for a more multi-pronged approach to protect Indian interests. The need of the hour is a coordinated, comprehensive push to optimally engage with international partners and multilateral institutions to push the Indian Deep Tech Ecosystem, the policy says.
#upsc #news #headline #Draftnational #Deeptech #Startup #policy #economy #principal #scientific #adviser #NDTSP #global #AI #semiconductors #artificial #intelligence #spacetech #fundamental #technical #technology #monetise #critical #property #resource #networking #indian #internationalagreement #ecosystem