Rajasthan News: In a bid to attract substantial investments in its mining sector, the Rajasthan government has announced new policies and incentives ahead of the ‘Rising Rajasthan’ Global Investment Summit, which is scheduled for December 9–11, 2024. The event will showcase the state’s ambitious strategies to increase the mining sector’s contribution to Rajasthan’s GDP from 3.4% to 5% by FY30, and to 8% by FY47.
The government is set to unveil the Mineral Policy 2024 and M-Sand Policy 2024 to draw investor interest, focusing on sustainable sector growth while addressing illegal mining and prioritizing environmental protection. These policy frameworks aim to ease entry for new players in the sector and enhance resource management.
Rajasthan Investment Promotion Scheme (RIPS 2024)
The state’s new Rajasthan Investment Promotion Scheme (RIPS 2024) includes monetary incentives, streamlined clearances, and the adoption of advanced technology to simplify the business environment for investors. Chief Minister Bhajan Lal Sharma recently introduced this scheme at an investor roadshow in London, where metals were added to the list of priority sectors, granting a 10% incentive over standard packages to investors from this sector.
Increased Incentives for Metals and Rare Earth Projects
RIPS 2024 provides additional incentives to high-potential industries. The metals sector will see at least a 10% extra incentive, while projects in rare earth elements, a high-growth sunrise sector, will receive a 25% bonus incentive on top of the standard package.
Drone Surveillance and Pre-Embedded Clearance to Curb Illegal Mining
To tackle illegal mining, Rajasthan plans to employ drones for real-time monitoring of mineral extraction. Additionally, the government will introduce a pre-embedded clearance model, ensuring that all necessary approvals are obtained before mine auctions, thus allowing lessees to begin operations immediately after purchase.
Rajasthan’s Mining Industry on a Growth Trajectory
Rajasthan is a mineral-rich state producing 22 major and 36 minor minerals, including lead, zinc, wollastonite, and gypsum. In FY24, the mining sector contributed over ₹7,460 crore in revenue, highlighting the economic significance of the industry and the state’s potential as a mining hub.
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
Discussion about this post