During the Lok Sabha session on Wednesday, MP Biplab Kumar Deb emphasized the significant benefits states have reaped from the auction system for mineral resources. Addressing the issue with Union Minister for Mines G. Kishan Reddy, Deb described the system as a transformative policy that has spurred economic growth and generated substantial revenue for both state governments and private enterprises.
Responding to Deb’s observations, Union Minister G. Kishan Reddy praised the reforms implemented by the Narendra Modi-led BJP government, particularly the introduction of the auction system for mineral resources. He highlighted its role in ensuring a transparent and equitable allocation of resources, which has directly contributed to the financial prosperity of states.
Reddy elaborated that the revenue generated through these auctions has been instrumental in funding various state projects, driving economic expansion across multiple sectors. He further pointed out that under Prime Minister Modi’s leadership, the auction system has yielded an impressive ₹6 lakh crore for state governments.
“This substantial revenue has not only strengthened state finances but has also created employment opportunities, particularly in the mining and allied industries. The enhanced efficiency and transparency in resource allocation have strengthened India’s mining sector, playing a crucial role in the country’s overall economic development,” Reddy stated.
