Read the following passage carefully and evaluate whether the given statement is True or False.
Passage:
In March 2025, the Ministry of Mines released the operational guidelines for the National Critical Minerals Exploration Incentive Scheme (NCMEIS). Under Section 4 of the guidelines, non-governmental exploration agencies registered with the Quality Council of India (QCI) are eligible for a 50% partial reimbursement of baseline exploration expenditure, capped at ₹2 crore per block, provided the exploration is confined to Deep-Seated Mineral (DSM) reserves defined under Schedule IV of the Mines and Minerals (Development and Regulation) Act. However, this financial incentive is strictly withheld if the target block lies within a notified Eco-Sensitive Zone (ESZ) or if the agency has previously defaulted on any state-sponsored geological mapping contract within the preceding three fiscal years. Furthermore, while private agencies can conduct independent preliminary prospecting (G4 and G3 stages), full-scale exploratory drilling (G2 stage) is restricted exclusively to public sector undertakings (PSUs), unless a joint venture with a minimum 51% PSU equity stake is formally established prior to commencing drilling operations.
Statement:
Under the NCMEIS guidelines of March 2025, a QCI-registered private exploration agency conducting independent G2 stage exploratory drilling for Schedule IV deep-seated minerals in a non-ESZ area can claim a 50% expenditure reimbursement up to ₹2 crore, provided it has no history of contract defaults in the past three fiscal years.
Cevap: Cevap