<div>Following months of ‘debates and discussions’ on improving <a href="http://businessworld.in/tagpage?tag=307162"><strong>coal production </strong></a>the government is finally taking cognisance of the murky coal situation. On 28 June, the union cabinet gave its nod for the Coal Regulatory Authority Bill, 2013 to be tabled in the next Parliament session and the constitution of independent regulatory authority.<br /><br />The industry has welcomed the move stating this will help in reducing bureaucratic delays and streamline the sector making it investment friendly. Chandrajit Banerjee, Director General CII said the Independent Regulator for the Coal Sector should have the mandate of managing the allocation process, opening of new exploration areas, mine planning and development, compliance by developers and to act as a central repository of exploration data and pricing.<br /><br />The Cabinet said the regulator will be set up through an executive order and will specify methods of testing, grading, pricing of both raw and washed coal and any other by-produce generated during the process of coal washing. The authority is also meant to monitor, enforce closure of mines and settle disputes between parties.<br /><br />The Coal Regulatory Authority Fund will be created where all grants, fee and charges of the Authority will be credited. Once the bill is passed an appropriate financial sanction for the initial start-up funding will be decided.<br /> </div><div>mmatbworld (at) gmail (dot) com<br /> </div>
