Agartala , Mar 12, 2025, TRIPURATIMES Desk

Agartala March 12: Taking note of the numerous benefits states have experienced from the auction system for mineral resources MP Biplab Kumar Deb raised the issue with the Union Minister for Mines G Kishan Reddy at the Lok Sabha session on Wednesday.

Speaking in front of the Speaker, MP Deb highlighted the transformative impact of the auction system for mineral resources while emphasizing it as a game-changer for the nation, fostering greater economic activity and providing substantial revenue to both state governments and private sector enterprises.

Responding to Deb's remarks, Union Minister G. Kishan Reddy extolled the reforms introduced by the Narendra Modi-led BJP government since assuming power.

He underscored that one of the most pivotal changes in the mineral resources sector has been the implementation of the auction system.

According to Reddy, this system has been a boon for every state in the country, ensuring a fair and transparent method of allocating mineral resources, which has directly translated into financial prosperity for the states.

The funds generated through these auctions are not only utilized by state governments but are also channelled into various sectors, thereby stimulating broader economic growth.

Furthermore, Reddy highlighted that under Prime Minister Modi's visionary leadership, the auction system has generated an impressive Rs 6 lakh crore in revenue for states across India.

“This substantial revenue has not only bolstered state coffers but has also created numerous employment opportunities, particularly in the mining and associated industries. The increased efficiency and transparency in the allocation of mineral resources have resulted in a more robust mining sector, significantly contributing to the country’s overall economic development”, he said.