A new Bill is under active consideration of the Government to ensure transparency, equity, elimination of discretions, effective redressal and regulatory mechanisms in the Mining Sector. It will replace the existing Act that regulates Mines and Minerals in the country. According to an official release, the draft Bill seeks a complete and holistic reform in the mining sector with adequate provisions to address issues relating to sustainable mining and local area development. The Bill also provides for incentives encouraging good mining practices, which will lead to technology absorption and exploitation of deep-seated minerals. The Draft Bill is presently referred to a Group of Ministers under the Chairmanship of Finance Minister, Mr. Pranab Mukherjee. Subject to the recommendations of the GoM and Cabinet approval, the draft Bill is expected to be placed in the Parliament in the next session.