Odisha News Insight

Coal Block Auction likely to fetch Rs.3,35,370 Crore for States

Coal Block Auction likely to fetch Rs.3,35,370 Crore for StatesThe auction of 67 coal blocks is expected to fetch a revenue of nearly Rs.3,35,370 crore for seven states where the mines are located, besides additional benefit of Rs.69,310.97 crore to consumers “in terms of reduction of electricity tariffs”, parliament was informed on Thursday.

“Out of 204 coal blocks cancelled by the Supreme Court, the government has so far allocated 67 coal mines through auction and allotment in 2015 in accordance with the provisions of Coal Mines (Special Provisions) Act, 2015, and the Rules made thereunder,” Power and Coal Minister Piyush Goyal told the Lok Sabha in a written reply.

According to a statement from the central government, Jharkhand owns the highest number of coal blocks at 20, followed by Chhattisgarh at 14 and West Bengal at 11. The other states who will benefit from the auctions are Madhya Pradesh, Maharashtra, Odisha and Telangana.

“One coal block, namely Ardhagram (in West Bengal), where the successful bidder was declared, has been handed over to designated custodian in view of a court case,” said the central government statement. (IANS)

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