Coal News We love to talk!

MAR 05 2016

Govt gets Rs 726 crore from auction of 31 coal blocks

  • Economic Times, ET Bureau / Hyderabad
  • Created: Sat 05th MAR 2016

Government has generated a revenue of Rs 726 crore from the auction of 31 coal blocks, Parliament was informed Thursday.

"The actual revenue generated till January 2016 only from auction of 31 coal mines under the provisions of the Coal Mines (Special Provisions) Act, 2015 is Rs 7,26,32,97,858 (provisional)," Coal and Power Minister Piyush Goyal said in a written reply to Lok Sabha.

The minister further said "the estimated revenue which would accrue to the coal bearing states concerned from the allotment of 43 coal mines and auction of 31 coal mines during the life of mine/lease period is Rs 1,96,698 crore and Rs 1,48,276 crore respectively."

Goyal further said the fourth round of coal blocks auctions for the non-regulated sector was cancelled in view of the prevalent market conditions which included sharp decline in e-auction price of coal from Coal India as well as the international FOB price of non-coking coal among other factors.

The three round of mines auction were held last year after the Supreme Court in 2014 cancelled the allotment of 204 coal blocks.



Coal Coal Mines Power India

Related News

  • Government sets up panel on UMPP bids; group to meet this week  Read more
  • REC says over 10% lending this financial year will be in renewable  Read more
  • It will help the state-run monopoly miner pursue its production and sales targets while feeding plants that have been facing uncertainty of coal supplies and thus power generation.  Read more
  • Gas price hike will benefit producers by Rs 1,300 crore: Ind-Ra  Read more
  • CIL forms panel for pay revision of 3 lakh non-executive employees  Read more
  • India's Sterlite to invest $1 billion annually in Brazil power lines source  Read more
  • Adani plans to begin extracting coal from Carmichael project in 2020-21  Read more
  • Gas subsidy auction for power plants likely in few weeks  Read more
  • COMPAT allows appeal against Competition Commission's order on GAIL India  Read more
  • NTPC to raise Rs 20,000 crore this fiscal  Read more