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New UserGovernment generates Rs 1,748 crore from auction of 31 coal mines
17 Mar 2017
The government has generated revenue of Rs 17,47.7 crore from the auction
of 31 coal blocks.
"The revenue generated till January, 2017 from the auction of 31 coal mines is Rs
17,47,72,47,706," Coal and Power Minister Piyush Goyal said in a written reply to the Lok
Sabha.
So far, 82 coal mines have been allocated by way of auction/allotment.
"Out of the 82 coal mines, 31 coal mines have been allocation through eauction," it said.
"The revenue from the auction of coal mines under the provision of Coal Mines (Special
Provisions) Act, 2015 comprises of Upfront Amount as prescribed in the tender document,
auction proceeds and royalty on per tonne of coal production, which shall be devolving
entirely to the coal bearing state government," he said.
Allocation of coal mines, including allocation during 201718, is an ongoing process, Goyal
said, adding that the decision to reserve blocks for commercial mining has not been taken.
Source: Economic Times