The government of India has been targeting to generate revenue of Rs.1.47 lakh crore from the allocation and auction of 92 coal blocks, in the first phase. All these coal black have geological reserves of 18,446 million tonnes .
In the first phase, 92 coal blocks would be allotted and auctioned to public sector and private sector entities. And the government has been speculating to get revenue from these to the tune of Rs.1.47 lakh crore.
There are 57 blocks for power sector and 35 mines for non-power sector and captive power plants, those were allotted in the first phase, 101 mines are being allotted through the auction route.
The number of coal mines allotment has been increased to 101 from 92 by the government of India last week.
Earlier, the Supreme Court of India has quashed the allocation of 204 coal mines by the government of India.