Rana-KapoorApex industry body ASSOCHAM has said that passage of the Mines and Minerals (Development and Regulation) Amendment Bill, 2015 in both houses of the Parliament shows that despite tough posturing, political parties are behaving in a very mature way when it comes to key economic reforms.

“Full marks to different shades of political parties who showed same spirit in Insurance Bill,” said Mr Rana Kapoor, President, ASSOCHAM while welcoming the passage of the MMDR Bill by Parliament’s upper and lower houses.

“Once enacted, it would increase transparency and end discretion in the auction mines, besides it would augment mines’ productivity,” said Mr Kapoor.

“Now there is a likelihood of increase in production of iron ore that will domestic steel industry as augmenting steel production capacity is crucial for growth and development of the manufacturing sector,” added the ASSOCHAM chief.