Coal news and updates

Coal bearing states have received Rs 3,653 crore till June 2017 from mine allocation, Coal Minister Piyush Goyal said today.”The coal bearing state governments have received an amount of Rs 3,653 crore till June 2017 from the allocation of coal blocks/mines under the provisions of Coal Mines (Special Provisions) Act, 2015,” Goyal said in a written reply to the Lok Sabha.”Under the aforesaid Act, provisions of the entire revenue from allocation (auction and allotment) of coal blocks / mines, accrues to the coal bearing State Government concerned,” the minister said.

The utilisation of the revenue generated from the allocation of coal mines under the provisions of the Coal Mines (Special Provisions) Act, 2015 is the prerogative of the coal bearing state government, the minister added.

 

Source: Financial Express