Coal news and updates

Block auctions generated value worth Rs 4 lakh cr

April 20: The total value generated by the recent auction and allotment of captive coal blocks is estimated at Rs 4,00,000 crore and not Rs 20,00,000 crore as has been reported in some media, Coal Secretary Anil Swarup said.

“There are reports that the government has benefitted to the extent of Rs 20 lakh crore by auction… Let me give you the exact numbers. The total value that will go to the state governments is about Rs 3.35 lakh crore out of the 67 blocks that have been auctioned and allotted so far,” Swarup said during a recent interaction with the industry in Kolkata.

“Apart from that there is a tariff benefit. In the reverse auction, the bidder has to pass on this to the consumers and the tariff benefit will be another say Rs 69,000 crore. So, in all, there is value generation of Rs 4 lakh crore,” he added.