"In the allocation and distribution of natural resources, we have ensured through the legal process that henceforth the natural resources can only be used in the service of the people and cannot be distributed in arbitrary, discriminatory or discretionary fashion to the chosen few friends and families of anybody, be it a political establishment, be it bureaucratic establishment," Goyal told reporters here.
Parliament approved two bills - Coal Mines (Special Provisions) Bill, 2015, and Mines and Minerals (Development and Regulation) Amendment Bill, 2015, which form part of NDA government's reforms agenda, in the nick of time as today was the last day of the first half of Budget session and the ordinances on these were to lapse on April 5.
The Coal and Power Minister said the two bills are gifts to the 120 crore Indians by Prime Minister Narendra Modi who fulfilled his commitment to eliminate even the remote possibility of corruption.
He said the Prime Minister has demonstrated his commitment to the development of mineral-rich eastern states.
"All the coal bearing and mine bearing states will now be benefited with lakhs and lakhs of crores of rupees in terms of additional revenues both as royalty and auction proceeds, which will help the development and faster economic growth of eastern India," Goyal said.
Terming the passage of bills as a "three-in-one" gift for the people of India, he said it would result in "reduction in power tariffs, additional revenue for coal bearing states particularly the eastern states of West Bengal, Odisha, Jharkhand and Chhattishgarh, and a particular focus on the local area".
Goyal said that the only opposition to the bills came from the political parties, which were "outrightly rejected by people -- the Congress, DMK and the Left".

Latest News  from Business News Desk