Mamta urges PM, reconsider a decision to approve 100% FDI in coal mining

Mamta Banerjee has written a letter to the Prime Minister saying that this step of the Center is contrary to the spirit of self-reliant India.

West Bengal Chief Minister Mamata Banerjee has urged Prime Minister Narendra Modi to reconsider the central government’s decision to allow 100 percent foreign direct investment (FDI) in the coal sector. She has written a letter to the Prime Minister saying that this step of the Center is contrary to the spirit of self-reliant India.

In this letter sent on Thursday night, Mamta objected to the decision of the government and said that this will send a wrong message and it will also end the thinking of the self-reliant policy which we have been following from the beginning.

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She said, “I strongly object to this policy announcement on solid grounds expressing This policy can neither bring foreign direct investment nor can it bring in technology.

“She said,” Recent trends and empirical evidence clearly show that global investors are more interested in renewable energy projects than coal mining projects. I have more

Research shows that around 100 global financial institutions have disinvested their stake in the thermal energy coal sector. Therefore, FDI is far-fetched in the thermal coal sector. ”

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She also said, “At a time when the world’s largest coal mining company Coal India Limited alone is producing 80 percent of the country’s total coal production and has earned a profit of Rs 27 thousand crores before tax in the financial year 2018-19.

As well as holds reserves of 31 thousand crore rupees, opening 100 percent FDI for multinational companies in the coal sector will give the wrong message. Doing so is contrary to the spirit of self-reliant India and it will also kill the policy of being self-sufficient, which we have been following from the beginning.

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The Chief Minister has also objected to the Coal Ministry’s move to suddenly shift the desk offices of four subsidiary coal companies out of the state. She has requested direct intervention from the Prime Minister in this matter.

Shee said, “Therefore, I request you to reconsider the decision to allow 100 percent foreign direct investment in the coal sector and to take away the office of the four subsidiaries of Coal India Limited from Kolkata to the Coal Ministry I urge you to advise not to do it and to intervene directly in the matter.