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`Natural resources should be declared national wealth`

Last Updated: Thursday, March 21, 2013 - 21:05

New Delhi: A Parliamentary panel on Thursday said that the government should take initiatives to declare all natural resources, including coal and iron ore, as national wealth.

In a report on Rashtriya Ispat Nigam tabled in the Lok Sabha on Thursday, the Committee on Public Undertakings said, "The Committee reiterate that government should take all possible steps in consultation with state governments to declare all mineral resources as natural wealth."

Taking a cue from the Supreme Court`s observations in RIL Vs RNRL case, the panel said Centre should take initiatives to declare "all mineral resources including iron ore and coal as national wealth."

The Committee, headed by Jagdambika Pal, said it expects the Ministry to furnish action taken on the matter within three months from now.

Demanding the Steel Ministry to ensure allocation of mine to RINL, the Committee said the Ministry should make all efforts to get the state-run firm licences for mining leases by the state governments within a time-frame.

In a separate report on Steel Authority of India, the Panel said the increased export duty on iron ore will "go a long way in discouraging the export of scarce iron ore to safeguard the future steel requirements of the country."

The Committee has also sought to government to "clearly specify" its stand on the issue of RINL-SAIL merger.


First Published: Thursday, March 21, 2013 - 21:04

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