Mines and Minerals (Development and Regulation) Amendment Act, 2026
Why in news?
Odisha's former CM urged for a special assembly session citing potential financial disaster due to the Mines and Minerals (Development and Regulation) Amendment Bill, 2026, passed by Parliament. The Act aims to regulate mines and mineral development for national goals and addresses issues like heavy and non-uniform taxes.
Key points
- The Act was passed by both Houses of Parliament and received Presidential assent.
- Odisha contributes the largest share (43.49%) of mineral production value in India.
- The Act's objective is to regulate mines and mineral development in the larger public interest.
- It emphasizes guiding extraction and management by long-term national goals.
Background & context
The Mines and Minerals (Development and Regulation) Act, 1957, is the principal legislation governing the mining sector in India. It was amended to address various aspects of mining regulation and development.
★ Prelims fact capsule
Odisha accounts for over 43% of India's mineral production value (excluding atomic, fuel, and minor minerals).
✎ Mains relevance
GS Paper III: Economy - Resources, environmental impact assessment, conservation. Governance - Policy formulation and its impact.